Home equity…Everybody wants it, but what exactly is it, and how do you get it?Equity represents the degree of ownership an individual or entity has in an asset after subtracting any

Dated: January 13 2022
Views: 89
Deciding if it is time for your family to upsize or downsize is not always a clear choice. There are factors to consider that might push you to take the leap or stay put for a while longer.
Whether you are thinking about upsizing so your family can spread out or purging possessions so you can downsize, here are some questions to ponder.
1. HOW ARE YOU USING YOUR CURRENT SPACE?
Maybe an upsize is warranted. On the other hand...
2. HAVE YOU CONSIDERED THE MAINTENANCE COSTS?
If upsizing is on your mind, consider the added costs for maintaining a larger home and property, whether in money or time.
3. WHAT ARE YOUR OUTDOOR SPACE NEEDS?
The size of the house is one thing, but what comes with the property is important, too.
4. HAVE YOU LOOKED INTO THE FUTURE?
5. DO THE FINANCIAL IMPLICATIONS ADD UP IN YOUR FAVOUR?
6. IS IT THE RIGHT MARKET TO UPSIZE OR DOWNSIZE?
Selling in a seller's market will be easy, but buying a new home might be a challenge. In a buyers' market, you will have many choices for your next home, but selling might be a challenge. Timing your sale and purchase will be crucial. It would be ideal to sell and buy at the same time in a balanced market, but we know that can't happen all the time.
Sales activities in your neighbourhood and the neighbourhood you're moving into will also be factors, among other things.
Whatever questions you have about purchasing your next home, I’d be honored to assist you.
You can reach out to me by simply replying to this email. Talk soon!
#downsize #upsize #move #realestate #askEmily
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Deciding if it is time for your family to upsize or downsize is not always a clear choice. There are factors to consider that might push you to take the leap or stay put for a while longer.Whether