As interest rates remain low and brisk activity continues in the Atlanta real estate market, many homeowners wonder if now is the time for selling and buying a home to accommodate a growing family. It never hurts to look at what’s available for sale in your price range, but before you begin a serious home search, you should first determine the reasons you want to move.
Many homeowners want to move simply because they have outgrown their current living space. With the addition of children and pets, a two- or three-bedroom home may no longer meet your needs. As children reach kindergarten age, changing elementary schools or relocating to a new school district are prime reasons to consider a move.
Changes in employment
Often, the purchase of a new home coincides with a job change. Neighborhood selection tends to depend on commuting time or proximity to your main place of employment. Over the years, as you move on to new career opportunities or even begin working from home, you may consider moving to a new home. Rather than accept a longer commute time or living in a neighborhood you selected primarily based on a past employer, you may search for a new home in an area you’ve always wanted to live in.
The renovate vs. move decision
After you’ve lived in your home a few years and saved some extra money, you may begin to think about large-scale renovations to improve your living space. Before you undergo the long, arduous process of dealing with contractors and living in a constant state of construction, it may make sense to see if any homes are listed that feature the items you want to add to your existing space. Swimming pools, finished basements and new kitchens are popular remodeling projects, and many homes on the market have already undergone these transformations. Some may even be available at a price similar to your current home, which would ultimately save you time and money.
When to Sell
It is very difficult to time a market – any market. And though Atlanta home prices are up 23% off their recent lows and right now is a great time to cash out and take some money off the table, at the end of the day, the decision to put a home on the market and move comes down to a life decision. As always, the best reasons to put your house on the market is if you a) want to sell, b) need to sell, or c) just curious to see if you can sell.
Selling and buying a home is a significant undertaking, but at certain stages in life, moving might be the best decision both financially and personally. Duffy Realty is familiar with the local market and can advise you on the costs and benefits of trading up to a larger house. They can also point you in the direction of several homes that best meet your family’s changing lifestyle.
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