When you’re selling your home, you will need to determine how much money your house is worth before listing it on the market. What your house is worth is affected by several different factors that I’ve outlined below.

  1. Location
    Where your home is located has a huge impact on its market value. Is it near public transportation, shopping malls, restaurants and quality schools? Does the area have a strong sense of community? Some buyers approach home buying in terms of the quality of the community and the types of activities that happen within it, including the reputation of the school districts within it.
  2. Size and Layout
    Some styles of homes are more popular with buyers than others. Previously, homes with lots of square footage were hot sellers but…

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Are you ready to upgrade to a bigger house? Feel like it’s time to trade up? There can be any number of reasons why you or your family wants to upgrade to a bigger home and I’d like to share some of the most popular ones along with some important things to keep in mind before actually making the move.

Current House is Too Small

Perhaps your family is growing and you need extra bedrooms for extra family members. Perhaps you initially bought a smaller home in order to be in a better saving position for your next home. Whatever the reason and you feel like your family has outgrown the space, it might be time to look for a bigger home.

Poor Location

If you’ve recently changed jobs and find yourself making an exhausting commute to and from work…

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If you read my last blog post about deciding whether you should upgrade your house, you’ll definitely want to read about the financial implications of doing so. Upgrading your home to a larger house is a big decision with many considerations. You need to be confident that you can handle the upgrade to your expenses along with the upgrade to your housing. Think about the following:

  • Do you need to sell your current home before you purchase a new one? For most people who don’t own their home outright, this will be the case. If you do need to sell, consider the following options. 1. Find a new home and make your offer conditional on selling your current home 2. Put your house on the market and sell it conditional on finding a new home. It works both…

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Similar to yesterday's post, today I'm sharing my home buyer's worksheet for budgeting. If you're wondering how much money to set aside for hidden costs, like home inspections, land transfer fees, title insurance and more, you'll want to take a look at this handy worksheet. Just click the link below to view the PDF and print it out so you can get your finances on track before you buy your next home. 

Download free home buyer's budget worksheet here.

What piece of budgeting for purchasing a new home resonated most with you? I'd love to hear your thoughts in the comments!

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