123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Real-Estate-and-Foreclosure >> View Article

Move Up To A Bigger Home Tips

Profile Picture
By Author: Thomas Mietzel
Total Articles: 13
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Your current home has served you well, but now it’s time to move on. Perhaps your family has grown, you are caring for an elderly relative or you would like to expand your home based business. Simply put, you need more space. A realtor with extensive experience in Madison Wisconsin home sales can give you the help you need in moving up in the world to a bigger home. There are a number of factors to take into consideration before closing a deal on the new larger property you want.
How to afford a bigger home
First, take an in-depth look at today’s real estate market. Check recent Madison home sales to get a picture first of all of how much your present home is worth, and also the approximate price of the type of house you would like to buy. Presumably you will need extra funds in order to move up. Are your assets and income up to the mark? Or maybe you are considering buying one of the Madison foreclosures on the market. This type of purchase comes with its own challenges; you need to be prepared, with cash at the ready, to act very quickly. One other way to afford more space is to move to a less central or an ...
... up-and-coming area.
Prepare yourself financially
It is always a good idea to obtain pre-approval for a mortgage, to speed things up if the right deal requires you to move fast. Here you may well have an advantage over a first time buyer, if you are already known to a lending institution as a reliable mortgage client. This is especially true if you have built up substantial equity in the home where you currently reside. Another important preparation is to research the costs involved for you as both a buyer and a seller. Take into account realtor’s commission, bank fees, moving expenses, repairs to make your present property more sales worthy and renovations to the new home, to name a few. Be aware that a larger home will tend to bring with it larger expenses such as increased heating bills, higher property taxes and increased maintenance fees.
Contingency plan
Because you will be juggling two real estate transactions, it is wise to have a contingency plan. Should you have difficulty finding a purchaser for your present home or if you would like to hold off selling for the time being while Madison real estate sales pick up, you may want to rent it out for a year or two. Alternatively, you can consider selling and then renting back from the new owner until you are able to find a suitable new house to purchase; this has the advantage of providing you with ready cash for a down payment. In the happiest scenario, if you are fortunate enough to find a buyer who will meet your asking price and your terms, on condition of immediate occupancy, where will you live until your new home is available?


To put more money in your pocket when you sell your home visit us at
www.HomeWithTom.com or visit our blog at www.MadisonHomeSales.com

Total Views: 106Word Count: 512See All articles From Author

Add Comment

Real Estate and Foreclosure Articles

1. Why It Is Wise To Have Fully Functional Residential Garage Doors
Author: DEN Garage Doors

2. Dlf The Dahlias Gurgaon: Exclusive 4 & 5 Bhk Apartments For The Privileged Few
Author: propertycloud

3. Experience Elite Living At Adani Ten Bkc – Starting ₹6.45 Cr*
Author: propertycloud

4. Piramal Aranya Byculla: South Mumbai’s Landmark In Luxury Living
Author: propertycloud

5. Rustomjee Erika Bandra – 2 Bhk Flats With Modern Kitchens & Open Layouts
Author: propertycloud

6. Hiranandani Bandra West: Book 3 & 4 Bhk Homes In Mumbai’s Elite Locale
Author: propertycloud

7. The Florida Homebuyer's Guide With List & Sell Real Estate
Author: solemediaus

8. Top Reasons To Book Your Home At Birla Punya Sangamwadi Today
Author: propertycloud

9. Origin Claremont: Elevating Urban Living With Panoramic Views And Exclusive Amenities
Author: Keystone Real Estate

10. Inside Raheja Modern Vivarea: Mahalaxmi’s Most Prestigious 3 & 4 Bhk Homes
Author: propertycloud

11. Shop For Sale Vs. Shop On Rent: What’s Smarter In Andheri East’s Commercial Market
Author: Horizon Consultants

12. Concrete Solutions For Every Setting: Public Paths, Commercial Interiors, And Residential Polishing
Author: Concrete Floor

13. Vinyl Vs Hardwood: Which Flooring Is Right For Home Renovation
Author: Bibaswan Roy

14. Common Mistakes In Land Development And How To Avoid Them
Author: Jake Lampard

15. Spj Vedatam Sector 14 Gurgaon | Retail Spaces And Serviced Apartments
Author: Gurgaon Property

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: