Winnipegs Real Estate Blog - Bo Kauffmann, REALTOR®Info and Tips for Buyers and Sellers of Winnipeg Real Estate - http://blog.winnipeghomefinder.com

Avoid these mistakes when moving up to a larger home

by Bo Kauffmann - Friday, July 17, 2015

http://blog.winnipeghomefinder.com/avoid-these-mistakes-when-moving-up-to-a-larger-home/

Moving Up To A Larger House? Avoid These Mistakes!

Sometimes in our lives we have the opportunity to move up and into a larger place to start theopulent life we have always dreamed of. Sadly, this is hardly ever as simple as choosing a newhouse and buying it. There are plenty of things you might want to consider unless you want to gobankrupt long before your removal van even starts on the way to that dreamt-of lifestyle. Moneyis always the biggest problem in these situations and you need to know all the issues that couldarise so that you can deal with them when you have to.

Sell Before You Buy

Procrastinate sealing the deal for your new house as much as you can until you find a certainbuyer for your old house. Always sell before you buys as you will need every penny of the budgetto pay for your new home and to maintain a larger house lifestyle. Don’t go to that next phase oncredit, and wondering how to pay the mortgage. You need to sell your old house at the best pricepossible and then think about calling up that man and van hire.

And speaking of mortgage, never underestimate the importance of getting a pre-approval for the mortgage of your new home, and securing a loan that will help you acquire that new house.

Realistic Income/Outcome Expectations

Think realistically when thinking about how much money you will need to maintain the lifestyle

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Winnipegs Real Estate Blog - Bo Kauffmann, REALTOR®Info and Tips for Buyers and Sellers of Winnipeg Real Estate - http://blog.winnipeghomefinder.com

at your new place. You might think that it will be the same place, just newer and bigger, but thatis hardly ever the case. When living in a big house people often get on a shopping spree to getsomething to go along with your new house, why not something more luxurious that what you areused to. Or you might just feel the need to decorate the place with some extra things since all theitems from your old place are not enough to cover up all the extra space. Finances often become aproblem simply because people get turned on by the idea of filling up all the space in their housewith something. And nobody is saying don’t do it – decorate, but think smart when doing it.

Use A Real Estate Agent

This is a must when you are trying to juggle between finding a new home and selling the old onein a tight timescale. You have your own things to do, like work, family, etc., and you cannotburden yourself further with market research and dealing with potential customers. Get anexperienced real estate agent to do all that for you before you make some costly mistake. Theyare experts at looking for buyers and sellers at the right prices, and will help you immenselyduring your moving house process. Agents can also help you get better mortgage and load dealsas they have enough experience in this area to know where to look for one.

Think hard about your finances before making that big step and calling the moving or man andvan company. You can stay humble even after moving to the new place. Set your feet on theground, make sure they are steady and only then start thinking about adding that extra opulence toyour life.

Bo Kauffmann of Remax Performance Realty is a top producing, 10-year veteranreal estate agent in Winnipeg. He specializes in representing home and condo buyers and sellers,and a proud supporter of D'arcy's Animal Rescue Centre. You can find his main listing website at WinnipegHomeFinder.com. You can follow him on Twitter, see his Facebook Page and circlehim on Google+ or LinkedIn.

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