When to Sell and Buy a Move-Up Home! » Mortgage Masters Group
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When to Sell and Buy a Move-Up Home!

Even after you find the perfect home, it might not necessarily be your forever home. At some point, you may decide to buy a different one. Reasons might include:

  • An additional income-earner has joined the household.
  • Your family is growing, and you need more space.
  • The kids have moved away and it’s time for a smaller house.
  • You or your partner received a promotion that comes with a better salary and benefits package.
  • Your current home’s value has significantly increased, and you want to capture those gains.

Current and Future Needs

Many first-time homebuyers are not in a financial position to making buying decisions based on future needs. A young couple, for example, may want to eventually start a family, but the home they can afford now would be too small for kids. When homeowners are in the financial position to move up – or out of a starter home – they may be able to take both current and futures needs into consideration.

 

Source: https://www.investopedia.com/university/homebuyers-walkthrough/homebuyers-walkthrough8.asp

 



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