Moving from an old home to a new one is never an easy decision, but certain life situations force our hand. A new baby, another job, a lifestyle change—all of these are reasons to move out of your old home and buy a new one.
Before you make the leap, however, you need to make sure that you’re in the right position to do so. Here are five signs that say you are:
Not enough space
Having more than one child or having your parents move in with you can certainly make that 2-bedroom bungalow feel cramped. If you need more room to accommodate a growing family, it’s time to consider selling your home.
Too much space
On the other hand, if the kids have moved out, a 5- bedroom house can be hard to maintain. In this case, downsizing to a condo, a townhouse, or a smaller single-family home is the way to go.
Upgrading your home is impossible
You’ve always longed to have your own patio, sunroom, or swimming pool. Unfortunately, there just isn’t enough space in your current home for these features. A new house—one that comes with a bigger lawn or backyard than your current one—could help you realize your property goals.
The old neighborhood no longer suits you
Perhaps new developments have encroached on the peace and quiet you once enjoyed. Or there are better residential options closer to your place of work. If you’ve outgrown the old neighborhood, moving to a better location can potentially deliver the improvements you want to see in your lifestyle.
You’re prepared for the next step
Selling your home and buying a new one are two completely different things – and you want to make sure each process gets the attention it deserves. That’s why real estate agents advise homeowners to have a strategy in place to avoid common home buying and selling pitfalls. Consult with a real estate agent; they can help you plan your transactions and ensure you’re ready to sell your home and buy a new one.
Your home shows serious wear and tear
Homes need care and attention to stay in good condition. However, if you find yourself spending most of your free time dealing with home repairs, a new home with little or no maintenance issues could be an attractive option.
You are financially ready
Even if all the signs indicate that it’s time for you to a move to a new home, you may need to stay put until your finances are in order. To make sure you’re ready to take on the responsibility of owning a new house, draw up a monthly budget that includes all your monthly expenses plus your potential mortgage. If your income exceeds the budget in your plan, then you’re ready to sell.
Thirty4 North Properties Group is a trusted real estate brokerage firm. If you’re looking for Wilmington homes for sale or properties in the East Coast, we provide first-class real estate services that take away the worries of buying or selling a home. Call 910-821-3510 to schedule a consultation.