Signs it is Time To Sell Your Starter Home and Look for a Bigger Home in Omaha or Council Bluffs

Signs it is Time To Sell Your Starter Home and Look for a Bigger Home in Omaha or Council Bluffs
Homes By Chris Harter: Your Local Omaha and Council Bluffs Real Estate Agent. Call: 402-378-9462 or www.homesbychrisharter.com

Your first home – your starter home, which you scrimped and saved to buy – will always hold a special place in your heart. As with most things in life, though, there comes a time when you should move on and sell your starter home in Omaha or Council Bluffs. But how do you know if that time is now? If you’ve been thinking about selling your starter home and upgrading, you need to read the signs – otherwise, you could be making a huge mistake. Here are signs it is time to sell your starter home and look for a bigger home in Omaha or Council Bluffs.

Your and/or Your Family’s Needs Are Different

One sure sign that it’s to sell your starter home and look for a bigger home in Omaha or Council Bluffs when your needs change. Most often this means a growing family, but it could also be a change in financial circumstances or other lifestyle factors.

You would need to sell your starter home and look for a bigger home in Omaha or Council Bluffs if you found yourself in this situation: “You purchased a two-bedroom starter home five years ago when you were single and dating. Now you’re married and have two children. While you could technically have your three-year-old and newborn share a room, it feels a bit cramped. You’d rather have a third bedroom (and maybe even a fourth for guests).”

Or maybe you did have enough bedrooms for you and the kids, but now you and your spouse find yourselves working primarily from home. In this situation, you’ve likely had to convert a bedroom into a dedicated home office – so now you’re a bedroom short. The only good solution, then, may be to sell your home and upgrade to a larger one with more bedrooms.

You Can Actually Afford It

Another one of the top signs that it’s time to sell your starter home in Omaha and Council Bluffs is when you can comfortably afford it. Maybe your income has increased substantially or perhaps you’ve gone from a single-income to a dual-income household. In either case, it might be a good move to sell and buy a bigger Omaha or Council Bluffs home. Doing so would be both reasonable and justified.

But do make sure that will be comfortable for your budget, not just an impulse move. You also need to factor in more than just the larger mortgage payments. Both property taxes and homeowners insurance (among other things) will go up. So be sure to consult your Council Bluffs and Omaha real estate agent to find out about these costs as well as all the other expenses associate with an upgrade. To find out more contact Chris and her team at Homes By Chris Harter at 402-378-9462.

The Home Has Appreciated or Needs Major Upgrades and/or Repairs

If your property has appreciated significantly, that’s often an indication that you should sell your starter home and look for a bigger home in Omaha or Council Bluffs. “There’s something to be said for selling while the getting is good. If you happened to buy in a really good neighborhood that’s appreciated significantly since your purchase, it may be smart to sell your home fast in Omaha or Council Bluffs and capitalize on your good fortune. This equity can then be put into another home purchase.”

Or if your starter home is in need of major upgrades and/or repairs, it may be time to sell your house fast in Omaha or Council Bluffs. If you’re looking at putting in a new HVAC unit or replacing the roof, selling may make the most financial sense. In this scenario, you’re likely better off selling than pumping tens of thousands of dollars into those upgrades and repairs.

You Want to Build Wealth

The fact that you’re ready to start building more wealth may be a sign that it’s time to sell your house fast in Omaha or Council Bluffs. If you sell your starter home and buy a bigger home in Council Bluffs or Omaha, you can begin building wealth.

First, when you upgrade to a bigger and better home, you will be able to begin building equity in that more valuable home. In addition, as the home appreciates, your equity grows.

And if you can swing it, if your debt-to-income ratio allows, you might even keep your starter home and rent it out in Omaha or Council Bluffs. This will provide you with another income stream to help you build wealth. Passive, recurring income is one of the top ways to build wealth.

The Market Conditions Are Favorable

Finally, you should sell your starter home in Council Bluffs or Omaha when market conditions are favorable. Suppose, for example, that interest rates are low and the local market is hot. In that case, selling a starter home makes a lot of sense.

So, is it time to sell your starter home and look for a bigger home in Omaha or Council Bluffs? Only you can make that decision, but your Council Bluffs and Omaha real estate agent can provide a lot of valuable guidance. Your local Council Bluffs and Omaha agent will know exactly what’s going on in the local market, as well as the additional expenses and whether the new home will actually meet your needs. Don’t make a mistake – contact Chris and her team at Homes By Chris Harter today. Send us a message or give us a call at 402-378-9462.

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