When you’re ready to upsize your home, there are several important factors to consider before making a move. Here are some key things you should know if you plan on upsizing.
Consider Your Budget
Upsizing your home typically means spending more money, so it’s crucial to consider your budget before moving. You’ll want to ensure you can afford the increased mortgage payments, property taxes, and other associated costs.
Consider Your Future Needs
When upsizing, consider your future needs. Will you be starting a family or will you have senior relatives moving in with you in the near future? Will you need a home office or a dedicated space for hobbies? Think about your future needs so that you can choose a home that will accommodate them.
Research the Neighborhood
Before you move, research the neighborhood where you’re considering purchasing a home. Consider things like the quality of local schools, parks, entertainment, and the overall feel of the area.
Consider Your Home’s Resale Value
When upsizing, consider your potential home’s resale value. You may want to choose a home that will be easier to sell in the future or will appreciate over time.
Hire a Real Estate Attorney
A real estate attorney can provide insightful legal guidance throughout the home-buying process. They can review contracts, ensure that your rights are protected, and help you with any other legal aspects of the transaction. It’s hard to foresee what legal support you’ll need when upsizing, but with a trusted real estate attorney, you won’t have to worry about that aspect.
This type of life event is a very exciting time for you and your family! If you’re considering upsizing your home, contact the real estate attorneys at Riley & Gutman for legal assistance. We can help to make the process as smooth as possible. Don’t hesitate to even reach out to us with any questions before you start the process!