moving, bigger-home, real-estate
Are you looking for a home with a little more space? Growing families, people who’s bedroom has morphed into a home office/gym/who knows what….maybe space is feeling just a bit too tight. We’ve found some ideas that you should consider when looking for and moving to a bigger place.
More space sounds nice. It can also mean that in addition to a potentially larger mortgage, maintenance and other associated homeowner’s costs will likely increase too.
Take these six things into account if you’re considering an up-size.
Make sure you understand the market before letting go of your current home. In the midst of dreaming of a bigger home, and the current real estate market frenzy, make sure you are thoughtful with your decision process.
Be Realistic About Space Needs
Assess your current space, and make sure it’s not over-cluttered or that your space could be better utilized. If you decide to move to a larger home, consider living in it for awhile before buying a bunch of new furniture, so you can get a feel for what your new space needs.
Think (Realistically) About Future Requirements
When thinking about any major purchase, you need to look ahead and think about how your life might change. How might your personal and or family needs change over the next five to ten years?
Don’t forget to take into account that a bigger house will come with higher maintenance and energy costs, and figure that into your financial planning.
Be On Top of Your Finances and Financing Options
Talk with a trusted lender ahead of time if you’re financing. Know how you stand with your credit, and what kind of rate you’ll get with a mortgage, and get pre-approved. Be ready for the higher mortgage, insurance, and property taxes that come with owning a bigger property.
Keep Up With Caring for Your Current Home
Keep up with home maintenance, and care. Even whilst you dream of something bigger, don’t let care for your current place go by the wayside. If something breaks, fix it before you list, and take advantage of getting potential top dollar for your property.
Don’t Overspend on Inessentials When You Move
To keep hold of your finances, settle in first before you start buying items. Keep track of your energy consumption, and habits that could lead to higher costs. Take some time to see how living expenses change, and how you can utilize your new space.
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