Real Living Real Answers Real Living Lifestyle Planning Guide | Page 18

LIFESTYLE PLANNING REGARDING
“MOVE UP MARKETS“
As Lifestyle Advisors, we take issue with the words “moving up.” We all have heard the expression that
beauty is in the eyes of the beholder and moving up to a more expensive or expansive home to many does
not necessarily constitute a move up. For the same reason, many real estate professionals prefer to refer to
downsizing as rightsizing—for some, a smaller home can make for a better lifestyle.
Therefore, our advice on moving up has more to do with timing than it has to do with the size of a home or
even the lifestyle. Instead, a so-called move up market in real estate terms can mean a period when there are
special negotiating opportunities, due to changing marketplace circumstances. Specifically, we suggest that
if you are looking to buy a more expensive home while selling a less expensive home, that there are times
when one can sell a home for a loss and buy a much more expensive home at an even greater reduction from
its former value. A move up market can be where timing, timing and timing, might for certain buyers, trump
location, location and location.
Ask your Real Living Lifestyle Advisor to keep you informed for when more expensive homes, in general,
are dropping at a higher percentage than lower priced homes. However, you and you alone are responsible
for deciding if and when to “move up.” As you put together your lifestyle plan and before you consider
moving up, consider the following.
CONSIDERATIONS
What your present home should sell for and If you should move up to a larger, more
how much equity you have. expensive home or try to time the market for
How much of your decision is based upon
economic considerations versus lifestyle?
How long are homes taking to sell in your price
range, as well as in the higher priced range you
are considering?
What are the tax considerations of buying and
selling during the same timeframe? Ask your tax
specialist or financial advisor.
when you believe there is a greater opportunity
to move up during a more favorable negotiating
period for so-called move up buyers.
Determine what you would like in a new home
and what you dislike, if anything, about your
present home/lifestyle.
Involve your real estate agent and financial
advisor in your planning.
Whether you should you sell your home before you
move up or if there is an opportunity to buy a more
expensive home, which has dropped dramatically
in price that you do not want to delay and miss this
rare chance. Only you can decide!
Step 2 / Review Your Lifestyle Options
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