No matter how much you love your current property, you may be dreaming
of the day you can buy up into a better home in a better neighbourhood.
Is that day today, or, is it a few years down the road?
Here’s a quick way to make that assessment.
First, make a list of all the practical reasons why it might be time to move
up. Those reasons might include features such as: more bedrooms,
proximity to work and school, a larger backyard with trees, nearby parks and
walking paths and better access to things you enjoy like theatre.
Next, make a list of the emotional reasons for making such a move. Those
reasons might include memorable get-togethers with friends on a more
spacious deck, an easier and less stressful commute to work, more family
time with the kids and enjoyable Saturday golf at a nearby course.
Finally, take a financial snapshot to determine if you can afford to move up.
You’ll need to get a good idea of what your current property will sell for in
today’s market, average price of homes in your desired neighbourhood, and
how much mortgage you’ll need.