Buy Your Next Home

Buy Your next home

For many people, new developments in life can mean it’s time to look for a new home. Whether it be a recent raise, an addition to the family or just a calling to explore something new, your housing needs have to meet whatever change life brings your way.

 

A “move-up” buyer is someone who is looking to purchase a larger and more expensive home than their current one. There are many advantages to being in this position, as a new home can provide:

  • More space: Additional space can better accommodate a growing family, your possessions or hobbies and activities.
  • Additional amenities: With an income increase, the extra amenities you may be able to afford could make for a more luxurious home.
  • A better location: From a shorter commute to a bigger backyard, a more convenient, comfortable or desirable location can vastly improve your quality of life.

Things to Consider When Buying Your Next Home

A lot of time and consideration goes into choosing the perfect home. As you go through the process of buying your next home, it can be beneficial to keep the following in mind:

loan-terms

Requirements

As a move-up buyer you already know that needs change over time. It’s important to be mindful of your present and future housing needs throughout the home buying process.

cost

Costs

There are many costs involved when buying your next home. Not only is it crucial to consider how much it will cost to sell your current home, including any necessary repairs or upgrades, but you also have to think about relocation costs, such as moving and storage.

price

Price

Paying attention to the price of both your present and future home is essential. If your current home is priced appropriately, it can sell quicker and these funds can be put towards a down payment on your next home mortgage.

Mortgage Options for Your Next Home

    • After you’ve settled on your new home, it’s time to finance it. There are a variety of home mortgage options to choose from including fixed-rate loans, adjustable-rate loans, VA loans, FHA loans, jumbo loans and more. Qualifications vary from loan to loan, but common requirements include a down payment, proof-of-income and credit preapproval.
    • Each loan program comes with its own distinct advantages and limitations so it’s important to select the mortgage best tailored to your wants and needs. Global Equity Finance can educate you on your options and work with you to get preapproved for your ideal home loan.

Find your mortgage match today!