Volume 1, Issue 6 | June 2014
IS IT TIME FOR YOU TO BUY ANOTHER HOME?
Blanche Evans, Realty Times
You may have loved your home when you
first moved in, but over the years your
feelings have changed.
You start to dream about another setting
for your household -- on the beach, in the
sky, on a golf course. You dream about a
downstairs master suite, a bigger yard, an
open kitchen -- something you don’t have
about your home right now.
So how do you know it’s time to make a
move? Here are three tests to help you
make a decision:
PODCAST OF THE MONTH
Episode 212
sell faster in the current market. You’re
prepared to do the dirty work of cleaning,
decluttering, and staging your home.
Most important, you’re willing to price
your home for the current market.
3. You can improve your quality of life.
It’s not just about the costs; it’s about
how you want to live your life. Having
more space is one of the most important
things to homebuyers. A bigger kitchen
can mean quality time cooking with your
spouse. A different neighborhood can
mean better access to friends, family, an
easier commute, better schools or other
benefits and amenities. Ultimately, you
want your next
home to solve
problems for
you, like giving
you more room
for your growing
family.
1. You can afford to move.
Affording a
new home
means you have
enough for a
down payment
(between 10
to 20 percent),
your income
and credit are
Think carefully
good enough
about the pros
to qualify for a
and cons of
bigger loan, and
moving. Most
CC Liscensed by Flikr User Alan Light real estate
your debt-toincome ratio is below 36 to 40 percent.
professionals would suggest that you sell
You should also be able to comfortably
your home before you buy a new one, but
handle moving costs, homeowner’s
you also need to have a plan and know
association fees or maintenance costs
where you’re going.
for your new home. When you run
the numbers, be sure to include higher
It’s easy to jump online and look at homes
mortgage payments, including higher
for sale and run mortgage calculators to
hazard insurance and property tax
see what you can afford, but until you
escrows.
talk to a real estate professional and learn
what your home is likely worth, you
2. You can sell your home easily.
won’t have the information you need to
Your home is worth more than your
make a decision.
current mortgage, to the point that you
can easily cover approximately eight
Together, you can run the numbers
percent of the sales price for closing
-- how much you can clear, how much
costs. You’re willing to spend the money
you need to spend to make your home
and/or time to put your home in top
market-ready, and how much you’d have
condition for marketing, especially for
available to put down on your next home.
repairs and updates that will help you
Bill joins the KLAD Wake-Up crew
to discuss locally owned Holman
Premier Realty’s 30 year anniversary
with Coldwell Banker.
Hear the podcast in its entirety by
visiting http://bit.ly/Episode212
DIY VIDEO TIP
Living room update for $500
Do you have a living room that needs
an update? Try adding some, neutral
furniture, fresh paint on the walls and
accent with color.
This video from our friends at HGTV
explain the steps involved in updating
a living room for under $500
http://bit.ly/DIYTipJune2014
http://bit.ly/1m4e05u