Does Moving Up Make Sense?

Answer these questions to help you decide whether moving up makes sense.

1. 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.

2. Has your income increased enough to cover the extra mortgage costs and the costs of moving?

3. Does your neighborhood still meet 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.

4. 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?

5. How is the home market? If it’s good, you may get top dollar for your home.

6. How are interest rates? A low rate not only helps you buy more home, but also makes it easier to find a buyer.

DISCLAIMER

Information presented on this website, including any online database information, is collected, maintained and provided for the convenience of our customers. While every effort is made to keep such information accurate and up-to-date, No.1 Quality Realty -- Cookeville Division or it's agents do not certify the authenticity of information herein that originates from third parties. No.1 Quality Realty -- Cookeville Division or it's agents shall under no circumstances be liable for any actions taken or omissions made from reliance on any information contained herein from whatever source or any other consequences from any such reliance.

Debra L. Dodd, Owner Dale Wilson Principal Broker,

No.1 Quality Realty -- Cookeville Division, Phone: 931-520-6401 ext. 112

Licensed Realtors in Tennessee

Each Office Independently Owned & Operated