6 Simple Steps to Get You Started on Your Upsizing Journey

Whether it’s accommodating a growing family, embracing multi-generational living, craving more outdoor space, or simply seeking a layout that better suits your lifestyle – the reasons for upsizing are as unique as you.

However, the decision to move up is not unique. In fact, a recent study revealed that over 1/3 of homebuyers in the past two years were homeowners just like you, taking the exciting leap to a larger home!

As you can see, you’re not alone in this journey. This guide is here to help you understand the important questions you’ll need to answer before making the move to a bigger, better space.

Step 1: Assess Your Current and Future Needs

Before making the leap, consider what’s driving your decision to upsize:

• Do you need more bedrooms or bathrooms?
• Are you looking for a bigger backyard or outdoor space?
• Is a home office or additional storage a must-have?
• Will you need to accommodate extended family members?

Understanding your priorities will help you focus on homes that truly meet your needs.

Step 2: Understand Your Financial Situation

Upsizing often means a larger mortgage, but it also comes with additional costs. Be sure to:

• Evaluate Your Home Equity: Your current home’s value can impact your buying power.
• Set a Budget: Consider mortgage payments, property taxes, and utility costs.
• Factor in Moving Expenses: Don’t forget closing costs, moving fees, and possible renovations.

Step 3: Determine the Right Location

The location of your next home plays a crucial role in your lifestyle and long-term satisfaction. Think about:

• School districts and family-friendly amenities
• Commute times and accessibility
• Proximity to shopping, healthcare, and entertainment

Step 4: Plan Your Home Sale and Purchase Strategically

If you need to sell your current home before purchasing a new one, timing is key. Options to consider:

• Sell First, Then Buy: Provides more financial security but may require temporary housing.
• Buy First, Then Sell: Ensures you secure your ideal home but requires financial flexibility.
• Bridge Financing: Helps you transition between homes without financial strain.

Step 5: Work With an Experienced Real Estate Agent

Upsizing involves many moving parts, and a professional real estate agent can guide you through the process by:

• Helping you determine the market value of your current home
• Finding listings that align with your needs and budget
• Negotiating the best deal on both transactions

Step 6: Make the Move and Settle In

Once your new home is secured, it’s time to prepare for the big move. Tips for a smooth transition:

• Declutter before packing to avoid moving unnecessary items
• Hire professional movers to streamline the process
• Set up utilities and services before moving day

Final Thoughts

Upsizing your home is an exciting milestone, but it’s important to plan strategically to ensure a successful transition. With the right preparation and expert guidance, you can find a home that meets your needs and enhances your lifestyle.

And remember, I’m here to support you every step of the way. If you’re ready to start your upsizing journey, let’s connect today!

Happy house hunting!