Signs it's Time to Upgrade Your Home

The home you own now will likely always remain special to you. After all, you selected it from dozens of others on the market. You’ll always remember the jitters of shopping for such a big-ticket item, the triumph of moving in after signing, and perhaps the first time you had the extended family over to your own home for the holidays. 

Whether this is your starter home or the home in which you raised your family, it’s natural that you’ve gone back and forth trying to decide whether you really need to sell and move on. For most homeowners, though, the day does ultimately arrive when it’s time to upgrade from a starter home to a home that’s better suited for their long-term lifestyle goals. 

If you’re considering whether this is your year to make just such a move, take heed of this list of 8 signs it’s time to upgrade your home.

1.) You’ve Maxed Out Updates on Your Current Home

At a certain point, you can invest so much into home repairs and remodels that your property becomes too valuable for the neighborhood. Upgrading kitchen cabinets is one thing, but when every aspect of your home would need an overhaul to make you happy, look around the neighborhood—would the upgrades you’re envisioning make your home impossible to sell in the current neighborhood?

When facing this type of predicament, it’s better to sell your home while it more closely matches those around it. Instead of a total overhaul on a modest home, invest your capital into a house that suits your current tastes—just make sure it’s located in a neighborhood of others like it. 

Your money will be better off, and what’s more, you won’t have to endure the inconvenience of further overhauls.

2.) Your Home Requires Repairs You Can’t Live Through 

Speaking of which, not everyone is interested in dealing with the life disruption that invariably accompanies home improvement, and that’s fine! If you’ve got the choice between investing in home improvement or relocation, it’s ok to sell and move—if you can afford it!

3.)You Can Afford to Make the Jump 

You may have snagged a better job, earned a series of raises, or just been thrifty over a long period of time, but however you got here - you've got extra income, and you want to invest in a bigger, better home. If this describes your financial situation, congratulations! You’re ready and able to move up.

4.) Your Home-Based Business is Expanding

If the only thing holding your home business back from soaring to the next level of distribution is lack of adequate facilities, you may find that it’s worth making the move to a more expansive home. Crunch the numbers carefully before you apply for loans, though, and don’t hesitate to ask for advice from an expert. Miscalculating what you can afford here will jeopardize your home and your business simultaneously.  

5.) Your Hobbies Are Being Hampered

Your headstand can’t get off the ground thanks to your tiny living room, your plants are languishing for lack of eastern exposure, and there’s only room for one cook in your tiny kitchen. Sound familiar? 

If you feel like you’re always bumping up against the restraints of your current home, it’s probably time to find a home that allows you space to chase those many passions of yours.

6.) Your Family is Growing—or Growing Up

Whether you’re having another child, or your children are just too old to share a room anymore, many families find that their once-cozy family home becomes claustrophobic over the years. If this describes your situation, we encourage you to shop for a home that suits your family’s needs. 

Like most family homes, the one you’d like to sell likely needs a bit of extra TLC to fetch top dollar on the market. If your kids are old enough, get them involved with cleaning, organization, and even painting efforts. The excitement from seeing potential houses can help get the momentum going, even for kids who are hesitant about leaving their current home behind.

7.) You Need Access to Good Schools

The home you purchased in your younger years may have been ideal for you then, but now that you’re planning a family, your priorities have no doubt changed. If researching schools has revealed that moving would put you in a much better district or school zone, this represents an excellent reason to put your current home on the market. Do so sooner rather than later; family homes near great schools gain value steadily over time, so you can save money overall by securing your spot now.

8.) Your Retirement is Around the Corner 

On the flip side, perhaps you did secure your family a choice home near a great school, but that was a couple of decades back when your children were small. If you’re nearing retirement and you no longer look forward to maintaining a large family home, this is your perfect chance to sell and relocate. 

Often by selling a large, single-family home, retirees can relocate to a more luxurious condo or apartment. At this stage in your life, we believe comfort and ease matter most, but fun counts, too! Keep an eye on the walkability and transportation options in the neighborhood you’re considering, all of which can help contribute to your being able to enjoy your retirement without worry.

No matter the reason you’ve decided to upgrade your home, Parks Realty is standing by to help. Whether you’re a couple looking for a family home or an artist who needs a larger studio loft, we’ve got the scoop on the hottest properties in Middle Tennessee. Contact us today!