Upsizing or Downsizing?
Even in this crazy housing market people are getting back to regular school and schedules and the home you have now might not be the bestÂ fit.Â It's too small or crowded, there isn't any outdoor space for the kids, or it is too large for an empty nest after those kids are off to college.
Buying a larger home will cost more money, but mortgage rates are low. You will be able to get more house for your money. You will be able to sell your current home for a higher price which increases your equity and gives you more to spend on your next home. Even though inventory of homes for sale is limited, there are more larger homes available than smaller ones.
If your current home is too large, there are many advantages to buying a smaller home right now. You will be able to use the proceeds of your large home to pay cash for a smaller one. Or if you still need to finance, your mortgage payment will be less and you can save the extra for retirement. Or apply it to your new monthly payment and pay off your mortgage sooner. And a smaller house means less time and money on upkeep.
Upsizing or downsizing, you need an experienced real estate agent like Darcey Edwards. She will help you price and sell your current home and guide you in the search for a new home that is the perfect fit.
Edwards Realty Trust
5193 N.E. Elam Young Parkway, Suite D
Hillsboro, OR 97124