Courtesy of Donna Concannon, REALTOR®

Does Moving Up Make Sense?

The answers to these questions will help you decide:

1. How much equity do you have in your home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of paying a mortgage, but if you’ve owned your home for a number of years, you may have significant unrealized gains.
2. Has your income increased enough to cover the extra mortgage costs and the costs of moving.
3. Is the neighborhood still a good one for your needs? For example, if you’ve had children, the quality of the schools may be more of a concern now than when you first purchased.
4. Can you add on or remodel? If you have a large yard, there might be room to expand your home. If not, your options may be limited? Also, do you want to undertake the headaches of remodeling yourself?
5. How is the home market? If it’s good, you may get top dollar for your home.
6. How are interest rates? A low rate not only helps you buy more home, but also makes it easier to find a buyer.

www.REALTOR.org/realtormag Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® . Copyright 2003. All rights reserved.

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New Smyrna Beach Real Estate Specialist. 
New Smyrna Beach Realtors.
Call us now to discuss your real estate needs.

Donna M. Concannon-Kosmas
Your Sales Specialist
Office  386-427-0439
Cell     386-235-8588

David S. Kosmas
Your Property Manager Specialist
Office  386-423-6859
Office  386-427-0439