Are You Outgrowing Your Home? Are you ready for an upgrade?

Truth be told! The quality of life is only as good as where one stays. The fulfillment that comes with living in your preferred home, neighborhood, and the city is immeasurable. Sooner or later, you have to decide on upgrading to a better home for one reason or another.

Sadly, the process can be tedious and frustrating. You have to juggle between buying first and selling or selling first, then buying amongst other considerations. If you're in this kind of dilemma, we show you in this guide, how to upgrade to a bigger home hassle-free.

Are You Outgrowing Your Home?

But first, how do you know you're ready for an upgrade? The obvious sign is outgrowing your home. So, if you're not sure you've outgrown yours, here are the signs to look out for.

Inadequate Room

The best homes serve different purposes apart from providing shelter. Probably, you love having friends over and need more space to accommodate them. You could also need a home gym, but there's not enough space.

In these situations, it makes sense to upgrade to a new and better home. Besides that, probably you love a spacious home, and the current one isn't giving you that. For your good, it would be best to upgrade to a new home that gives you fulfillment.

Growing Family

Many times, people start by living alone or with a spouse. Later, they welcome the first child, then more children. But it never stops at that. Friends and family members may also move in. if this is like you, there's no doubt you need an upgrade, especially when there's limited room. An upgrade will give you more space and privacy, more so when the family is growing fast.

Improvement in Your Financial Status

For many people, an improvement in financial status means upgrading to a new and better home. It doesn't work like this for everyone, but still, a decent number of people love luxury and would instead upgrade to a new home than stay in the old one.

So, if you've recently closed a lucrative business deal or you've got a promotion at your place of work, upgrading your home could be a good idea. If you're thinking along this line, it's worth knowing that it's a commendable move!

You're Ready to Sell the Home

A home you've been in for several years becomes a part of you with time. So, it can be a hurdle disposing of it considering the great memories you've created over the years. However, if you're ready to let all this go and start all over again, it could mean you've outgrown the home and are ready for an upgrade.

These are the pointers to look out for when planning to upgrade your home. That being said, if you clicked yes to any of them, chances are high you're down for a home upgrade.

What to Consider When Looking to Upgrade to a Bigger HomeNow that we've settled the basics of a home upgrade, here comes the challenging part. What should you consider before making a decision? This stage of your upgrade journey is vital because you can regret it if you blunder. Below are the tips for making an informed decision.

1. Choose to Buy or Sell First

Based on our experience with move-up buyers, this is one area that's a hard nut to crack. Many move-up buyers are torn between buying first and selling the old home or selling the old home before buying the new one. It's often a dilemma for many sensible reasons.

For one, if you sell your home first, there's no guarantee you'll land a better one you're looking to upgrade to. And for two, you can buy a new house and end up with two homes that need mortgage payments. This can be more costly and overstretching than you ever imagined.

So, if you are considering buying or selling your house first, you need to know more about your options regarding your home or how to get it on the market so that you can sell it quickly? Most of the time , this is a tedious process. The good news is that you can get consultation with us and we will help you create a customized plan that fits your needs.

2. What are Your Long-Term Plans?

Let's get this right: having both short-term and long-term goals when upgrading to a new home is important. However, it's more important for your sanity, several years down the line, to have a long-term plan.

The best way to make an informed decision is to project the possible future home needs. For example, are you considering the possibility of more children or accommodating friends and family members in the future? If you see the need for more space in the future, it will be best to go for a spacious home right off the bat.

3. What's Your Budget Like?

Moving to a new and more luxurious home can be fulfilling and exciting. However, it would be best if you weren't carried away in the process. The first thing to consider before an upgrade is your budget. Can you afford a new home? You should answer this first!

Setting the proper budget saves you from tons of frustration down the line. So, it's vital to get this right from the onset. In addition, you also want to know the value of your current home, if you're thinking of selling it.

Are you outgrowing your home?

If you are considering upgrading your home, feel free to contact us for advice on the next steps you should take.

Wrapping Up

As a first-time move-up buyer, the process can be a hurdle when you don't know how to go about it. A real estate agent with experience can help you make good decisions on what neighborhood and property type that best suits or meets your needs, and they can help you find the perfect house to buy or sell at the appropriate time .

We got you covered and you can call if you need more space or are looking to move up from a Condo to a townhouse or semi-detached to a detached house. So, don't hesitate to call us today at 416.459.2007 for more information. We can help create a plan that suits your needs in the current real estate market.