But when it comes to deciding when to move, the considerations are a bit different.
There are numerous reasons why moving might become advantageous.
Aging is one, as larger homes become more difficult to maintain as owners age.
Credit:Candra Huff
Here, real estate agents and experts offer tips on determining when the time is right to move.
Similarly, the prospect of building a family often tells current and potential homeowners that its time to move.
Maybe your family is growing, and youve outgrown your current place.
Of course, sometimes moving is tied to more sudden changeslike a new job, Hall adds.
AgentParisa Afkhamiof Coldwell Banker Warburg says moving should be a consideration anytime something major shifts in your day-to-day.
In my opinion, all life transitions could necessitate a need to move i.e.
Often the appeal of larger spaces or immaculate gardens can become a maintenance and financial burden.
Whatever the reason, moving is often harder than simply buying your first home.
Despite what many say, the decision to move is almost always a more emotional one.
However, many times feelings of ennui and boredom can set in over time.
Consider the benefits a move might bring and what that might be worth in terms of a cost increase.
Others may enjoy cooking at home anyway, so this isnt a factor.
Hall adds that affording your new home is only one piece of the puzzle.
Think beyond just the purchase price.
What will your finances look like after closing?
How much savings will you have left once everything is said and done?
Factor inclosing costs, taxes, moving expenses, and potential home repairs, he says.
Moving is a big choice that can impact your daily life in ways big and small.
Ultimately you will need to weigh the benefitswhat are you gaining by moving or staying where you currently are?
Are you gaining abetter location, more space, or an investment that will appreciate over time?
As you look at the pros and cons, think about the last time you made a tough choice.
Being objective when it comes to buying or selling a home is difficult, McDermut says.
To clear your thoughts, consider reframing the prospect of moving with excitement.
Allow your family to dream about your new home and what the future could hold.
Need help navigating the choice?
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Purchasing a new home isnt easy, especially whenselling your current home.
I always suggest starting with short and long-term goal assessment.
Keeping a budget helps with understanding what you’re able to afford to do and when.
Always plan for a rainy day, so keeping an eye toward savings is also important.
Next, consider what a new area could offer you in terms of lifestyle and amenities.
Be open to homes that need some remodeling or have the potential for custom upgrades.
All of these factors will likely impact your decision to sell and buy.
Also, ask yourself if the move is a need or a want.
Despite the difficulties of weighing your options, McDermut believes your choice will come down to a gut feeling.
