You've Outgrown It. Most first time home buyers and investors start small. You might compromise your want for more square footage for something smaller that's priced right instead; or maybe you chose the condo with just a partial water view or in close vicinity to the beach instead of that beachfront condo that you first had your sights set on. At the time, it was the right way to go. But consider, are you in a position to sell your current property and upgrade for those original ideals? If so, it might be time to move on to a property better suited for you.
Change In Lifestyle. Maybe you work from home now, or have retired? Do you now have children, or grandchildren? Are you taking time to travel more frequently? These are exciting lifestyle changes and can bring a new perspective to what you want and need in a home or investment property. You might require the extra room, or maybe you're contemplating using that second home as a rental property. Now is the time to evaluate the benefits of upgrading your property to better fit your lifestyle changes.
Remodeling Won't Yield a High Return. Every community has a limit to how high prices can go. If your home or condo is in need of the upgrades of a remodel, it's possible the return just won't be worth it. It may be time to assess if it's in your best interest to let it go and move on.
You Can Afford to Sell and Have a Flexible Time Frame. With property values on the rise in the last few years it may make more sense to take advantage of an appreciating market and leverage your equity into your next property.
If these four tips have you thinking it's time to upgrade your property, give us a call. We're always here to help you.