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When Do You Know It’s Time to Move


There comes a time in our lives when our current living situation just doesn’t work for us anymore.  This can be for various reasons, whether your family has grown or reduced in size, you’re changing jobs, relocating, looking for a change of scenery.  Whatever your reason may be, there are lots of helpful websites out there to help guide you in making smart financial decisions regarding your future mortgage.


Mortgage Calculator is an excellent resource that I have personally used myself recently when we were renovating and selling our old home to purchase our new one.  


The site has a feature which allows you to link to a specific calculation with the results already filled in. A couple of other things which makes the site unique are graphs of loan repayment along with monthly and yearly amortization tables.


One of the calculators which I found to be extremely useful on the site, was one that helped in estimating mortgage affordability based on income https://www.mortgagecalculator.uk/affordability/. This gives you a clear idea of what you should be able to afford.  Of course, you should always factor in your monthly home expenses, insurance and taxes.


This is an excellent time to buy a home, if you’ve been saving for one.  Interest rates are low right now, which makes buying a home more affordable.  However, with so many people wanting to relocate after the pandemic, there is a fierce home buying market out there and homes are selling quickly!


One way to get an advantage is by getting preapproved for your mortgage. Many sellers will not even consider a bid from a buyer unless they are preapproved, so keep that in mind before you start searching. This will let you know how much the lender is willing to loan you and will give sellers peace of mind when accepting your bid.


Another way to gain an advantage on a home you really love is to place a bid with no contgencies.  Basically, you’re saying you will accept the home as is, overlooking small things that need to be repaired and only will require repairs on structural and environmental problems should they arise in the inspection.


Remember to do some research on the neighborhood you’d like to live in. Does it have good schools?  Is there crime? You should always find out about the schools and if there are any crime problems in the neighborhood.  Also, take a ride through the area during peak traffic hours to see how the roads and noise are.


I like to live relatively close to shopping that I can walk to in case of an emergency.  I also like quiet neighborhoods that I can walk in safely.


You can find a home buying checklist online, that is very useful in walking you through important steps of buying a home and obtaining a mortgage. They help keep you informed of the steps you need to take. Your realtor and lender are also very helpful when you choose the right one, so choose wisely and be sure they are available whenever you need them.


Happy house hunting!


Comments

  1. I feel it's time to move when you've absolutely outgrown your home. If you just want a change in your life and it's affordable for you. **Calshondra Williams**

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  2. It is time to move to cut costs and to downsize. Less is best!

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  3. The home buying market is certainly fierce out there right now. A Realtor actually knocked on my door last week and asked me if I was willing to sell my home. So many people want to move and start fresh right now.

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    1. I get letters in the mail all the time. Even in my new home.

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  4. I have heard about a lot of bidding wars recently.

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    1. Yes even the home we recently bought had a few bidders. Luckily they chose us.

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  5. I wish I was able to buy a home at this time. I'm relocating and rent is so high, but so are home prices. The market is insane right now.

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  6. Just went thru this get info

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  7. We are empty nesters. We talk about moving all the time! It seems that every time we decide that we are going to do it, something happens to make us change our minds. I believe that we are still parents even after our children turn 18! We have wanted to have a change of scenery to a warm place. My bones can’t take the cold 🥶
    I swear our girls kept having kids so we wouldn’t move. It is better to have your mortgage preapproved. Especially if you are moving out of state!! Thank you for sharing!

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