Is this the right time for you to move on to another home? It may or may not be, depending on a number of factors. Here are some of the more important things you may want to consider.
YOUR PERSONAL FUTURE:
Only you can determine your future needs and the probable course of your career. When you read this, you may say to yourself that you don’t know what the future holds in terms of the stability of your job and earnings potential. Ironically, this is true for most people today. The rapid changes in our economy bring a degree of uncertainty to many businesses and their employees.
YOUR FAMILY’S NEEDS:
Your family may be growing or shrinking and need a house that better suits its present and future requirements. Because a home’s local school system are an important factor, your children’s educational needs may dictate a move. Or, you may have a job opportunity that would necessitate a relocation, or you want to downsize or convert to care free townhouse living.
LOCAL MARKET CONDITIONS:
Is this a strong market in which to sell your home? Is there strong demand for your area and style of house? If you are an existing homeowner, you will probably want to buy in a strong market when you know the odds are that you will be successful in selling your hose in a reasonable period of time and able to purchase the next property. If you are now renting, you may consider buying in a weaker market when the selection of homes is greater and the sellers are more motivated to negotiate.
MORTGAGE INTEREST RATES:
Interest rates have a huge impact on your buying power. With rates currently on the rise, this is a vital factor that cannot be overlooked.
ADVICE: Seek professional advice and proceed cautiously. In most cases, both a mortgage lender and Realtor will be more than happy to meet with you to discuss your options without cost or obligation. Take your time, do your homework and you will be successful when the time is right for you!