If moving has been on your mind for a while but you're still on the fence, there are a few key things to consider when making your decision. Moving is never an easy task, but it also opens up a ton of new opportunities for you. So, should you stay or should go you? Here are some top considerations.
Do you have the money to move?
This is crucial! Is moving a financially smart decision? If you’ve been saving for a while and you have the money you need for a down payment, it might be time to start packing! Don’t forget that you also need to account for increased housing costs and a home maintenance/improvement budget too. Interested in tips on how to start saving for your down payment? Look no further.
Have your circumstances changed?
Whether it’s a new baby, a new job, or even a new pet, there are many life events that cause people to look for a new home. (Fun fact: 79% of millennials who purchased a home said they would pass on a home if it didn’t meet their pet’s needs). Maybe your circumstances have changed and a renovation at your current place just won’t do, or perhaps you’re renting. If you’re ready to make a change in your housing situation based on your life events, moving might be a great idea.
If you have kids, what’s their school situation?
Many people move because either their kids are ready for school or their kids are leaving school. This is a huge driver for many people to purchase a new home. If you have school-aged children and you’re looking for a nice home and a great school district, moving might be on your agenda. On the other hand, if your kids have flown the nest and you’re ready for a new adventure, you could give another family a great chance at your schools and neighborhood.
Can you leverage your home’s equity?
In the Denver area, it is definitely a seller’s market. This means that many homeowners could be sitting on significant home equity. When you’re ready to make a change, you may have the opportunity to take advantage of your home’s equity to make your move. Keep in mind that if you plan to sell your home, you’ll be looking at buying something new during a busy market.
Still not sure what your next step is? Get in touch with me at 8Z Real Estate! I would love to have a conversation about your home goals.