Today we’re discussing how to decide if you can afford a larger or more luxurious home, without a doubt a home is the largest purchase many people make. Like any major decision, home ownership requires careful consideration, especially if you’re planning to buy a much more expensive home. You should be very clear about your purchasing reasons. Have your family’s
needs changed enough to require a larger and more expensive home? Do you need, or just want certain amenities and features in a different a different home, and can you afford them? Before making an offer on a new home you’ll need to estimate the cost of selling your current home and how much you can realistically expect to get from your home.
One of the best ways to put selling your home on the fast track, if you’ve already checked for any hidden problem areas or issues and repaired them all, is to hire a home stager. Not everyone will like your personal style, and you’re planning on moving anyway so why not change the look of your home decorating a little bit and transform it to a more modern and commonly acceptable design. These can be small changes like
your curtains to painting your walls or even updating or getting rid of certain furniture pieces. A little can go a long way. You can even rent furniture if need be. Having a well decorated home can reel the right buyers in fast. Of course there is a bit of a process that needs to happen to get to this but it is possible and when you hire someone, they should take care of all of the details and you just need to manage your life around them.
Price your home, calculate sales costs, including the cost of repairs needed to maintain your home value; these are valuable steps. If you have a leaky roof or need electrical or plumbing work your sales price is likely to be lowered to cover those costs. Consider hiring a home inspector to uncover any hidden problems. Talk to a professional about what you can do to get the most in price out of your home. These changes
may seem like a lot but they can increase the value. If your home is priced realistically, you may be able to sell it faster. Property appraisers set a price by comparing a home to a recently sold, nearby property, similar in square footage, room number, age and features. Your real estate agent will help you decide on a listing price by getting a list of comparable properties. You may also want to consider buying a home that needs a little fixing up. Homes needing renovation may be available below market value. There are purchase and renovate loans available that may enable you to buy and repair with one loan. Consider that remodeling and repairs may require hiring a contractor depending on the loan you chose, but the time and cost of renovating could help you afford the dream home you really want.