Maybe the kids have grown up and moved away. Or maybe you’re starting a family and just need a little more room. Whatever the case, you may be thinking about “moving up.” Anticipating a move into a newer and/or larger home can be an exciting time. Interest rates are still relatively low, and the recent drop in housing prices in cities across Texas is enticing for homeowners considering an upgrade. But before you make that leap, make sure you have a clear understanding of your needs, wants, and financial capability.
Start with a wish list. Rank the features you want in order of priority. Consider things such as:
- Feelings about your current home
- Time you are willing to spend commuting
- House size you really need
- Feelings about privacy and security
- Importance of schools, shopping, and services
- Neighborhood character and environment
- Preference for older or contemporary homes
Second, determine if you can really afford to move. Consider your present income, current equity, and the value of the house you intend to buy. Finally, find a Texas REALTOR®. Your REALTOR® can help you determine if “moving up” is right for you and, if so, help you find the home of your newer dreams. If you have any questions, please don’t hesitate to contact us.
Source: Texas Association of Realtors®