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Consumer Reports
for Home Seller
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Seller Services |
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Does Moving Up Make
Sense?
The answers to these
questions will help you decide:
- 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.
- Has your income
increased enough to cover the extra mortgage costs
and the costs of moving?
- Is the neighborhood
still a good one for 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.
- 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 yourself?
- How is the home
market? If it’s good, you may get top dollar for
your home.
- 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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Reports for Home Buyers |
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