Starter homes are just that, an excellent place for new homeowners to get a start. These are usually smaller, more affordable homes and may require renovation. Wise real estate investors know that homeownership includes selling and buying multiple homes in a lifetime. Some common triggers usually set the chain of events into motion that propels an informed maneuver. These triggers may be personal circumstances changing or economic growth bringing on the next phase in homeownership, your first move upward! Regrettably, many people fear making the wrong move and continue to live out their lives in less than ultimate conditions. Five signs you need to upgrade your house in Baltimore.
1. Getting Crowded
Understanding your starter home’s living conditions aren’t forever can make it more bearable to live with the inherent inconveniences of close living quarters and a general lack of storage, to name a few. However, if your first home has become too small for your ever-growing family, this is a significant sign you need to upgrade your house in Baltimore. Due to the ever-growing numbers of people working from home, the need for additional space to create a home office is crowding families into fewer bedrooms. Squeezing everything into your starter home can be not only uncomfortable but also extremely stressful on interpersonal relationships. Moving into a home that better conforms to your family provides the opportunity to improve day to day living in our ever-changing lives.
2. Significant Value Increase
Understanding the value of real estate’s location is imperative to achieving the best possible fair market value at any given time. After all, the ultimate goal for your investment dollar is earning the highest possible return. By investigating and buying your starter home in the best area possible within your budget, the payoff can be substantial, depending on shifts in the real estate market. The demand for more permanent housing has gone up rapidly, which may mean your home’s value has risen drastically faster than anticipated. This gain in home equity signifies that it’s a great time to upgrade your house in Baltimore. Opportunity doesn’t always knock twice, so why not strike while the iron is hot and sell your starter home, using the equity you’ve patiently built over the years to buy a bigger and better house.
3. Current Low Rates
Have you noticed the low mortgage interest rates and started to compare the loans being offered by different lenders right now? Or maybe you have been checking the MLS for recent home sales near your property, searching for comparable prices. Because avid real estate investors are always looking towards the future, their second nature leads them to begin undertaking the research and other tasks that lead to success. If you catch yourself following this train of thought, it’s a sure sign you’re ready to upgrade your house in Baltimore. Remember, he who hesitates is lost. The time to move on these fantastic rates is now.
4. Upgrades Looming
Many homeowners, attempting to avoid the hassle of selling and moving, make significant repairs or upgrades to make the home more liveable. Perhaps you continue to imagine how you would knock out walls or add rooms for your starter home to better conform to the new demands you have from home. These are signs you need to upgrade your house in Baltimore. You can leave your starter home behind for a new owner to begin their homeownership journey. At the same time, you can move onward and upward into a more contemporary home that already has the amenities you seek.
5. Found a Dream Home
While you may not have been in the market for a new home, happening upon your dream home and learning that it is available can be quite exciting. Maybe you simply find your thoughts returning again and again to the perfect house, which is not your starter home any longer. Should you find yourself unable to think about anything else, this is a definite sign you need to upgrade your house in Baltimore. If your income has increased significantly since initially purchasing your starter home, making the upgrade makes even more sense.
Are you experiencing any of these signs telling you to upgrade your house in Baltimore? Maybe you just aren’t sure! We understand completely! Our experts are always paying attention to the real estate market and know how they will affect you personally.
At Maryland Home Buyers, we are happy to listen to your unique circumstances and help you decide if the time is right for you and your family! Maryland Home Buyers will buy your starter home as-is, with fast closings that save you time and money! Maryland Home Buyers will help you locate the perfect upgrade! Let Maryland Home Buyers help you feel confident you’re upgrading to the best deal on a new home in Baltimore. Send us a message or give us a call today at (410) 657-2523!