2020 was a year for change for all of us across the globe. Many lifestyle adjustments and plenty of time at home. During that time, you may have started to think about how much your current home suits your needs, even if you thought at one point that the home you’re in could be your forever home.
Last year impacted the needs of many in a variety of ways, and it’s okay to recognize that the home in which you currently live might not fit your lifestyle now. If you’ve turned a room in your home into a makeshift office or school space, you’re trying to exercise at home, or you are just spending more time in your own four walls than you ever expected to, you may be ready to move onto something bigger.
So how do you upgrade your home without fully downgrading your bank account? Yes, upsizing will cost you, upfront and on down the line in the future . But that doesn’t mean it’s a bad investment. It just means you need to be smart about it.With an inventory drop of 22% over the last year and home price appreciation at 7.3% year-over-year, it has never been a better time to sell. Inventory has decreased and demand has increased, which has driven prices up. This is great news if you are a homeowner and you’re thinking about selling. Your home equity has likely risen as prices have increased and there’s a large pool of buyers searching for the perfect home. Entry level homes are in big demand and hard to come by.
Listing your goals in your next will help you prioritize on exactly what you and your family may need. Do you need a bigger kitchen, bigger living area or more bedrooms? Perhaps a home office is now in the mix, or a big back yard to enjoy? Whatever your wish list entails write it down. Have a plan and find a home that works into it that isn’t going to break your bank account.
If you can relate to all of the above and are weighing your options when it comes to selling and finding a bigger space, let’s chat today.
