We all get to a point in life, no matter how much we love the home we’re in, where we need to move on. Maybe you need more/less space. Perhaps you are taking a job out of town. Maybe you’re just dreaming of that next home. The question most people end up asking is whether now is the right time to make a move. Should we wait a few months? A few years?
Here’s a helpful way to assess whether now might be the right time to make a move:
- Start by making a list of the practical reasons you’re thinking of moving. This may include requiring more bedrooms as the kids are growing up; a yard that has become too much to maintain or a larger kitchen for hosting your friends and family.
- Make a list of the emotional reasons you’re thinking of moving. Those may include having watched your children grow-up in the home, or the emotional attachment of this home having been your first home purchase.
- Take a look at all of the financial reasons you’re thinking of making a move. See if you can afford to move up right now. If you’re downsizing and contemplating retirement, then how much would you need to get out of your home and what would you need to purchase a home for to make that a reality. If you’re a first-time buyer, how much of a down-payment have you saved? Have you reviewed all of the costs associated with home ownership?
After you’ve had a chance to go through these three key elements you should have a much clearer picture of where you stand on making a move. If it practically and emotionally makes sense to make a move that you can afford, then you have your answer!
It can be hard to sit down and put a list like this together, especially on the financial side, when you may not know or understand all the costs associated with buying and maintaining a home. That’s where we come in. A large part of what we do is consultation – we sit down with you to help guide you through the decision-making process and determine what is best for you and your family. Consultations are always free and there is no obligation. Feel free to reach out to us anytime to set up your free appointment. We’re here to help.