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Are you considering buying a home that is larger or more expensive than the one you currently own? If so, you are what’s commonly referred to as a “move-up buyer.” This can be an exciting time, but it can also be challenging if you’re not quite sure how to make this kind of move. And that’s why we’ve put together this list of seven tips for savvy move-up home buyers!

1) Establish Your Goals

Before you start shopping for a move-up home, it’s important to first establish what you’re hoping to achieve with the move. Are you looking for more space or a better location? Do you have particular features in mind, such as a pool, guest bedroom, or larger yard? 

Once you have a clear idea of what your goals are, it will be easier to find the right home.

2) Consider Your Finances

Of course, a move-up home is typically more expensive than the one you currently own. So it’s important to consider your finances beforehand. Have you saved enough for a down payment? How much can you afford in terms of monthly payments?

Also, if you’re getting a mortgage loan, it’s a good idea to speak with a lender before you start your search. This way, you’ll have a better understanding of how much you can afford.

3) Factor in Costs for Renovations

When buying a move-up home, it’s important to factor in the costs of any renovations you may need to make. For example, if you need to put in a new kitchen or upgrade the bathrooms, you’ll need to make sure you can cover the costs.

4) Take Your Time When Shopping

Don’t rush the process of shopping for a move-up home. Take your time to look at different properties and find the right one for you. And if you’re unsure about a property, don’t hesitate to get a home inspection or consult with an expert.

5) Look Beyond the House Itself

When considering a move-up home, it’s important to look beyond the house itself. Consider the amenities in the area, such as schools, parks, shopping centres, and so on. If you have children, you may want to research the quality of the schools in the area.

6) Negotiate for a Lower Price

When shopping for a move-up home, it never hurts to try and negotiate for a lower price. Speak with the seller or their agent to see if you can get a better deal.

7) Work With a Reputable Real Estate Agent

Finally, one of the most important things move-up buyers should do is consider working with a reputable real estate agent. An experienced agent can provide invaluable advice and help guide you through the buying process. Plus, they may have some insider info on the right home for your needs and budget.

The Bottom Line

Buying a move-up home is an exciting, but potentially challenging process. But with the right preparation and these seven tips for move-up buyers in mind, you can make this experience much smoother and more successful! Good luck!

Looking for an experienced agent to help you find the perfect move-up home? With over 30 years of experience as a real estate team, you’ve come to the right place! Click here to get in touch with Hawkins/Ryerse Real Estate Group, and get started with us today.

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