Knowledge Base

Does Moving Up Make Sense?

Answer these questions to help you decide whether moving up makes sense.

  1. How much equity do you have in your home? Look at your annual mortgage statement or call your lender to find out. Usually, you don�t build up much equity in the first few years of paying a mortgage, but if you�ve owned your home for a number of years, you may have significant unrealized gains.
  2. Has your income increased enough to cover the extra mortgage costs and the costs of moving?
  3. Does your neighborhood still meet your needs? For example, if you�ve had children, the quality of the schools may be more of a concern now than when you first purchased.
  4. Can you add on or remodel? If you have a large yard, there might be room to expand your home. If not, your options may be limited. Also, do you want to undertake the headaches of remodeling?
  5. How is the home market? If it�s good, you may get top dollar for your home.
  6. How are interest rates? A low rate not only helps you buy more home, but also makes it easier to find a buyer.

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The data relating to real estate for sale on this website appears in part through the TReND Broker Reciprocity program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which we participate, and is provided by TReND through a licensing agreement. Real Estate listings held by brokerage firms other than our company are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers.

This website displays data that has been downloaded from various sources that we believe to be reliable. However, the possibility of typographical errors does exist and errors should be expected. Please verify all information with the appropriate real estate professional before making any decision based on the information contained herein.

Data last updated: 12/08/09. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.


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