Upgrading
Understand Your Home’s Value
Before upgrading, it’s crucial to know what your current property will realistically sell for — not just what it can be listed for. A professional Comparative Market Analysis (CMA) will give you the clearest picture. Pricing your condo correctly can help you avoid a long gap between selling your current home and purchasing your next one. Keep in mind that if you've only owned your condo for a few years, your equity may be limited, while strong market appreciation can create exciting opportunities to move up.
Get Your Finances Ready
Transitioning to a larger home often means larger expenses. Beyond a bigger mortgage, expect higher costs for utilities, insurance, and property taxes. If you have a home equity loan, that balance will need to be paid off at closing. Securing a mortgage pre-approval — not just a pre-qualification — is key before starting your search, so you have a clear understanding of what you can afford and are positioned to make a strong offer when the time comes.
Sell Smart, Move Smoothly
Selling your current property before buying your next will make your move much smoother — both financially and logistically. Buyers prefer non-contingent offers, and you’ll avoid the pressure of juggling two mortgages. Even if you sell for slightly less than you hoped, today’s lower home prices and favorable interest rates can make upgrading a smart financial move.
