Signs it might be time to move to a new house
Are you thinking about moving, but do not want to deal with the inconvenience and aggravation? Fortunately, the need to move may outweigh temporary unrest if the overall goal is to get out of your current living arrangement and get into a coveted new location.
If you are feeling the “itch” that is indeed time to move, collect your thoughts, take a breath and do an honest of appraisal of why now may be the optimal time.
If any of the following thoughts arise, take the urge to relocate seriously…
Equity
Finally there seems to be light at the end of the “upside” down, recession tunnel. Unless you were deeply buried in your home, now that home values have risen – especially in the Bay area – you should have a fair amount of equity following a sale to allow for moving up into a more desirable home. If you still do not want to move, check out prevailing interest rates by talking to your favorite mortgage broker to see if it makes sense to refinance. But, be cautious do not use your home as a bank. That is what got everyone into a mess to start with.
There is not enough space
Did you add to your children and/or pets to your family? Do you need to relocate to a more desirable school district? Or are you finding it harder and harder for your home to accommodate the increasing load of treasures you just cannot live without? If so, maybe it is time to put your current house on the market and move up into a larger property. Though prices in most California cities have risen markedly, there are still deals to be had – especially if you are not afraid of engaging in a little sweat equity to add comfort and value.
There is too much space
Conversely, did your children move out recently to make their way in the world? Are you now empty nesters and find the thought of a big, nearly vacant home too much to handle. Perhaps it is time to downsize and move into less square footage with nicer amenities. Before you move, make sure you really want a change and the aggravation of moving is worth it.
Your neighborhood and/or city are on the decline
Has your neighborhood morphed into an area full of renters and absent landlords? Does the quality of neighbors seem to be on a downward slide? Are there cars bumper to bumper lined up and down the street, masking desirable overall aesthetics with the perception of density and urban sprawl? Has the city lost some of its appeal? In any of these cases, consider moving if you can get an attractive offer for your house, before the neighborhood really appears to have become questionable.
Your commute has changed for the worse
Has your previously short commute turned into a monster due to a job change? Do you feel like you are spending the vast majority of your disposable time sitting in the car in traffic? Do you basically only get to see you family on the weekends? If this is your reality, interview and select a competitive real estate agent, put your house on the market, and start searching for something between your current home and the location of the job that will cut down on lost time as well as vehicle wear and tear.