One would have to be living under a rock to not notice that the local Grand Junction, CO real estate market has changed. Prices have come down considerably over the last couple of years and don’t appear to be going up very quickly. This makes for a great opportunity to move up and into a bigger home. Not sure if it’s time to make the move up? Here are a few questions that should help you decide. If you answer yes, it may be time to move.
1. Have you out grown your current Grand Junction home? If you have added some little people to your family in last few years the home you chose originally may not fit any more. If you find yourself complaining about space, it may be time to move up.
2. Do you still have fairly good equity in your home? Take a quick look at your mortgage statement or phone your lender to find out. If you bought 10 or more years ago, put some money down, or built your own home, you may have some equity that can help offset the move up.
4. Has your income improved or financial situation improved? If you have has some raises or pay increase or even switched to a job that pays more, you may be able to afford a little higher payment. Plus, since prices are down and interest rates are still historically low, often you can get more house with very little increase in payments.
5. Have you matured beyond your neighborhood? First-time home buyers often take whatever comes along and are excited to do so, but later you may realize you would like a different neighborhood or want to be closer to work etc.
6. Is your home something that would not be good to add onto or remodel? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your county doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.
7. No room for the toys? (yours and the kids) If you have acquired more toys and so have your kids, then it may be time to look for a home with extra space, outside and inside. Some HOAs can be restrictive when it come to trailers, campers and the like. Finding a home on a larger lot outside of an HOA controlled subdivision may be a logical move up.
As always, before you decide get a free Comparative Market Analysis from a local real estate agent that knows the market. Next talk to your lender and make sure the numbers work for you. Then it’s time to put the sign in the yard and start looking for that next move-up home.
By: Andrea Haitz, CEO
Keller Williams CO West / Diva Team
2474 Patterson Road, Ste 100, Grand Junction, CO 81505