4 Signs You’re Ready to Move Up

Here are some signs you could be ready to move up:

1. You Can Afford a Larger Mortgage

Upgrading homes generally means moving to a bigger home and/or a nicer neighborhood, both of which come with higher property values. If you can afford a higher monthly payment now than you could at the start of your last home buying journey, because of salary increases, equity in your current house, or other factors, buying a better property could be a wise investment.

2. Market Conditions Are Favorable

You may be able to get a great deal on a better home in a buyer’s market, but if you’re looking in the same area where you live now, you might not have the advantage when you’re selling your current home. Think carefully about how market conditions will impact both your purchase and your sale.

3. You Have Time for Extra Upkeep

Larger homes need more maintenance, especially when you first move in. If you don’t have a lot of time to get a new house in excellent shape again, consider waiting to move when you have a more relaxed schedule.

4. You Have Money for Ancillary Expenses

A larger mortgage isn’t the only thing you’ll be spending more on when you move up. You’ll also have more rooms to furnish, more home improvement projects to complete, higher property taxes, and higher utility bills for as long as you live in the house. Make sure you can afford all of the extra expenses over time.

Does moving up seem like a good decision right now? Let your Loan Officer know! They’ll be thrilled to help you secure financing and find an excellent home for the next chapter of your life.