Starter homes are a great place for new homeowners to begin but at some point it’s time to move on up and upgrade your house. These are usually smaller, more affordable homes and may require some TLC. Smart real estate investors know that homeownership includes selling and buying multiple homes in a lifetime. Some common triggers usually set the chain of events into motion that propels an informed maneuver. These triggers may be personal circumstances changing or economic growth bringing on the next phase in homeownership, your first move up the ladder! Unfortunately, many people fear making the wrong move and continue to live out their lives in less than ultimate conditions. Here are five signs you need to upgrade your house in Detroit.
Understanding your starter home’s living conditions aren’t forever can make it more bearable to live with the inherent inconveniences of close living quarters and a general lack of storage, to name a few. However, if your first home has become too small for your ever-growing family, this is a significant sign you need to upgrade your house in Detroit. Due to the ever-growing numbers of people working from home, the need for additional space to create a home office is crowding families into fewer bedrooms. Squeezing everything into your starter home can be not only uncomfortable but also extremely stressful on interpersonal relationships. Moving into a home that better conforms to your family provides the opportunity to improve day to day living in our ever-changing lives.
Decent Value Increase
Understanding the value of real estate’s location is imperative to achieving the best possible fair market value at any given time. After all, the ultimate goal for your investment dollar is earning the highest possible return. By investigating and buying your starter home in the best area possible within your budget, the payoff can be substantial, depending on shifts in the real estate market. The demand for more permanent housing has gone up rapidly, which may mean your home’s value has risen drastically faster than anticipated. This gain in home equity signifies that it’s a good time to upgrade your house in Detroit. Opportunity doesn’t always knock twice, so why not strike while the iron is hot and sell your starter home, using the equity you’ve patiently built over the years to buy a bigger and better house.
Current Low Rates
Have you noticed the low mortgage interest rates and started to compare the loans being offered by different lenders right now? Or maybe you have been checking the MLS for recent home sales near your property, searching for comparable prices. Because avid real estate investors are always looking towards the future, their second nature leads them to begin undertaking the research and other tasks that lead to success. If you catch yourself following this train of thought, it’s a sure sign you’re ready to upgrade your house in Detroit. Remember, he who hesitates is lost. The time to move on these fantastic rates is now.
Many homeowners, attempting to avoid the hassle of selling and moving, make significant repairs or upgrades to make the home more liveable. Perhaps you continue to imagine how you would knock out walls or add rooms for your starter home to better conform to the new demands you have from home. These are signs you should upgrade your house in Detroit. You can leave your starter home behind for a new owner to begin their homeownership journey. At the same time, you can move onward and upward into a more contemporary home that already has the amenities you seek.
Found a Nicer Home
While you may not have been in the market for a new home, happening upon your dream home and learning that it is available can be quite exciting. Maybe you simply find your thoughts returning again and again to the perfect house, which is not your starter home any longer. If you find yourself unable to think about anything else, this is a definite sign you need to upgrade your house in Detroit. If your income has increased significantly since initially purchasing your starter home, making the upgrade makes even more sense.
Are you experiencing any of these signs telling you to upgrade your house in Detroit? Maybe you just aren’t quite sure yet! Our team of experts are always paying attention to the Detroit real estate market and know how they will affect you personally. At Detroit Fair Offer, we are happy to listen to your unique circumstances and help you decide if the time is right for you and your family!
Send us a message if you are ready to upgrade your house in Detroit today! We buy houses “as-is” and pay all cash! Or give us a call now at (313)647-8806!