Health & Fitness
Are You Asking Yourself: Does Moving Up Make Sense?
Here are some questions that will help you decide whether you're ready for a larger home.
Your family is growing or your parents or your in-laws may be moving in with you.
Are you asking yourself: Does Moving Up Make Sense?
Here are some questions that will help you decide whether you’re ready for a larger home.
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1. Have you built equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant gains.
2. Has your income or financial situation improved? Have you finished paying off
those big bills? Have you graduated from college? Have you married? Are you now a two-income family? If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving.
Find out what's happening in Three Villagewith free, real-time updates from Patch.
3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you’d like to be closer to your job or live in a different school district.
4. Are there reasons why you can’t remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. Or you simply are not interested in remodeling, then moving to a bigger home may be your best option.
5. Are you comfortable moving in the current housing market? In a slow market
finding a buyer may take longer, but you’ll have more selection and better
pricing as you look for your new home.
6. Are interest rates attractive? A low rate not only helps you buy a larger
home, but also makes it easier to find a buyer.
If you answer yes to most of these questions, it may be a sign that you may be
ready to move. Feel free to contact me with any of your real estate questions.
Call for a FREE market analysis of your home. Ask about my full service, low cost Brokers Commission available to market and sell your home. All homes are listed on MLS.
Geri DeRosa Ertle, Licensed Real Estate Broker
Charles Rutenberg Realty,
Local Office Setauket, NY (631) 379-8157 GeriErtle@gmail.com
Member of NYSAR, LIBOR, MLS, NAR, CDPE
