A new year always has a way of stopping us in our tracks to evaluate where we’re at and where we want to be. Often, it’s our health and work situation we strive to change. But for some, a new year could mean looking at moving to a new home.
Here are 5 signs you may consider a new home this year.
You’ve Outgrown your Current Home
Maybe your family is growing and expanding. Or maybe, there’s simply no longer enough space for your family in your current place. If you’re feeling crowded, it may be time to consider a new home that meets your current needs.
The kids have left or your roommate has moved out. Your current home may be feeling a bit spacious for your current situation. If so, you may want to consider downsizing to find a home better suited for you. Also, consider the perks of downsizing – perhaps, a lower mortgage payment!
If you’re currently renting and have been waiting for the right time to purchase a home – it’s now. Rates have been historically low and often, rent prices are higher than a monthly mortgage payment. Another reason to purchase a home and stop renting is that you are your own landlord! This means no more rising rents, the freedom to do what you want in your space, and the chance to invest in YOU and your own financial future instead of paying your landlord’s mortgage.
The Timing Makes “Cents”
Perhaps you’ve been saving for some time now and have been waiting for just the right time to buy a home. If you’re feeling like the timing, mortgage rates and your finances are right, get preapproved right away. Your mortgage lender can walk you through your options and tell you just how much you can afford to purchase a home.
You’re Ready for a Change of Scenery
Maybe your neighborhood is on the decline, you dislike your neighbors, you’re wanting to move somewhere with more walkability, or be closer to family/friends. Whatever your reason may be, if you feel anxious in your space and like it’s time for a change of scenery, it may be the right time to move.