How do you know when it’s time to upsize? I’ll go over a few important factors of this decision today.
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Is it time for you to upsize? That's really a personal question! The answer depends on your needs.
Maybe you have a growing family that needs more space. Maybe you were only living part time here in Florida, but now you’re here full time. You might need a bigger garage, or to accommodate a golf cart.
Lifestyle changes also play an important part in any decision to upsize. Maybe you want to dock your boat at the back door, or to live in a gated, golfing community. Maybe you want to get out of a golfing community and into a larger home elsewhere. Sometimes it’s a matter of location: You had a nice home up north, but now you’d rather have a nice home in South Florida.
If you plan on upsizing, take advantage of low interest rates.
Your financial situation will always factor considerably in any decision to upsize. Is now the right time to move in the market? You may want to sell your old home first before buying a bigger home and the buy something larger.
If you’re trading up, you’ll want to do it before prices go up and while interest rates are still low. That will give you a much better position in the market.
For example, if you’re selling a smaller home and buying a larger home, you may take a lower price on the sale, but you can make up for it when you purchase. At the end of the day, it’s a better deal for you all around. Buying when rates are low will save you thousands and thousands of dollars over the life of the loan.
So if you’re considering upsizing or have any questions at all about buying or selling a home, don’t hesitate to give me a call or send me an email. I would be happy to help you!
