Why it's Time to Upgrade Your Home and Save for a New One via @homebidz

Why it’s Time to Upgrade Your Home and Save for a New One

When considering the sale of your current home for a bigger place or for a relocation, it's important to adjust your expectations and goals appropriately. For many, it begins to get confusing - Should they focus on the sale of their home? Or should they spend their efforts trying to become second-time home buyers.

This Rug Really Ties The Room Together

When buying a home it is always important to consider the possibility of a future move. Whether to relocate or a job or to expand your family. Ultimately, it’s going to have to be a decision you make and feel comfortable in, but let’s discuss the circumstances. If your home is in need of dire repair, these repairs will likely be a requirement for nearly every buyer. If the repairs are simply upgrades that are purely cosmetic, it can be a negotiating point for you and the potential buyers that come your way. Either way as a home owner you should have a realistic assessment of what is in need of repair or may need upgrading in the future. While occupying your first home it would be much more cost effective to repair things as they need so you won’t have to foot a larger bill later. So don't sweep needed repairs under the rug!

Bigger House or Larger Profit? Determine Your Down Payment

Keep in mind that many housing markets don’t require such large down payments these days, which can free up a lot of money and allow you to put more repairs and work into the property that you’re looking to sell. Debate this: would you rather have the ability to put Home Equity (and therefore large downpayment) on your next, new home? Or would you rather make sure that the current property sells easily?

Conclusion

As a homeowner it's important to remember that your home can be your biggest asset or your greatest liability. This is exactly why its time to upgrade your current home and always keep an eye on the future, you may be in the market for a new home at some point. So ,which is better, upgrading or saving? The answer is entirely up to you, but upgrading now may save you tons in the future.

Latest Posts

The Art of Changing Realtors When You Need to via @homebidz

The Art of Changing Realtors When You Need to

First Time Home Buyers Click Here Finding a realtor can be kind of like dating. There are a ton of them, each with their own set of pros and cons, different areas of expertise, etc. So, when you start forming a...
Loans, Fees, and the Real Cost of Owning Your Home via @homebidz

Loans, Fees, and the Real Cost of Owning Your Home

Need a Home Loan? We know this may come as a shock, but that home that’s for sale for $350,000 will actually end up costing about $575,000 over time. How? Between the interest rates, insurance, property tax, and...
Rent to Own vs. Traditional Mortgages via @homebidz

Rent to Own vs. Traditional Mortgages

Need an FHA Loan? It’s no secret that most people seek out rent-to-own home options over traditional mortgages because of credit issues: either their credit is fair or poor or simply just unestablished. Depending...
Why Does My Credit Matter? via @homebidz

Why Does My Credit Matter?

Click Here to Look at Bad Credit Home Loans Honestly, if you have less than perfect credit, you can still potentially buy under a rent to own option, but you still have to get financing at some point, so you'll need to...
Taking the First Step on Your Rent to Own Journey via @homebidz

Taking the First Step on Your Rent to Own Journey

Looking for Rent to Own? When considering a rent to own journey, there certainly are a couple different choices. Each requires the rental property itself, two authorized documents, and then -- sometimes -- an...
Simple Ways to Save for Your Down Payment via @homebidz

Simple Ways to Save for Your Down Payment

Need Family Support? There are a lot of different ways to purchase a home. You can get creative and try owner-financing, or even buying a home at an auction. For the majority of us though, we’re still using banks and...