When Should You Move UP From Your Starter Home?
Updated: May 22, 2019
One of the most common reasons homeowners grow out of their starter homes is because they are starting or growing their family, and what was once a perfect house for two now feels far too cramped for a household of three or four.
If you’ve used every system The Container Store offers and still feel like there’s not enough room for all of your belongings in your starter home, it may be time to move to a larger home or at least a dwelling with more storage.
If you bought an older home or fixer-upper that’s turning into a money pit, it may be time to sell it — especially if you can afford to move to a newer home that won’t need as many repairs.
Chances are you bought your starter home because you had limited income. If some time has passed since then and you or your partner are earning more — or an additional income earner is now in the household — it’s more likely you can afford to move into a larger home or one in a more desirable area.
If your home’s value has gone up significantly and market conditions are right — meaning the market is hot enough that your home could sell quickly and interest rates remain low enough to make your next mortgage reasonable — it could be a great time to make a move.