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If you’ve been waiting for the right moment to transition from your starter home to a bigger dream property, the moment may have arrived.
Many homeowners are surprised to learn that the larger home they’ve dreamed of is a closer reality than they expected. Especially in current conditions, this might be the best time for you to finally make that move.
Very likely, the equity you have in your current property will cover the down payment on your next home. Because of the excellent mortgage rates at the moment, the carrying charges for your new home won’t necessarily be that much larger than what you are paying at the moment. Speak to your real estate agent to discuss what the carrying costs would look like for a larger home.
Perhaps you’re thinking of moving into a larger space due to changes in your personal status – you’re recently married, for example, or you have a growing family that needs more room. Moving into a larger house can also be beneficial for people who work from home, who need their own office space, or other types of self-employed workers, like contractors who need a basement or garage to set up shop. Finally, you may just be ready to move because the time has come to leave the old property behind. You may have long-standing issues with features of the house you know will never change, or perhaps you had to settle for the neighbourhood.
Whatever your reasons for wanting to move up in the world of real estate, this is a great time to be looking at your options. From the practical angle, moving to a larger home will ensure that the equity you have in your home continues to grow, and make for a better investment in the future. The larger and nicer your home, the greater its value will be over time. From a personal angle, you will feel a tremendous sense of pride moving into that new dream home you’ve always wanted.
Talk to a real estate agent to discuss your options and evaluate your situation. A real estate agent can not only advise you on which houses are available, but he or she can take your personal needs into account and help you in the sale of your current house. Above all, have fun and good luck! This is an exciting time in any homeowner’s life.
Nelson Goulart
Broker of Record with Signature Service GMAC Real Estate
www.infomarketgroup.com
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