|
What's Your Home Worth?
Get Your Home's Value! Receive a free comparative market
analysis plus neighborhood comps!
Your best source for Real Estate in Wichita
Kansas
No one knows Wichita homes and Wichita neighborhoods better
than Larry Underhill. He has been the number one Realtor in the Wichita real
estate market for the past six years and has been one of the top three Realtors
in the United States for the past five years.
Wichita Real Estate
You will
find listed here some of the more progressive Wichita real estate agents who
have turned to the Internet as a means of putting local residential properties
before a national home buying audience.
 |
Conditions Are Right For Buying The
Higher Priced Home You’Ve Always Wanted
By: W. Troy Swezey
|
|
|
Higher interest rates and home
prices in the past have kept home owners from purchasing larger homes. The
current real estate market conditions, however, are encouraging for many home
owners who want to “buy up” to higher priced homes with more to
offer.
If you are considering trading up for a larger and more
expensive home, conditions for doing so couldnt get much better. Interest rates
are the lowest theyve been in two decades, and home prices in many regions are
the most affordable theyve been in years.
You should consider a few
factors before reaching a decision to trade up:
* Can you afford
higher mortgage payments and property taxes?
* Is your credit record
solid enough to qualify for the probable higher monthly mortgage payments?
* Do you plan to stay in your new home long enough to recoup your
investment?
Obviously, youll need to sell your current home before
getting serious about trading up to a new one. A healthy real estate market
indicates that youll have little trouble selling your existing home. The
national Association of Realtors reported in August that sales of existing
single-family homes are rising steadily, especially among first-time buyers.
Affordable home prices and low interest rates could make the starter home you
purchase several years ago particularly attractive.
If you can afford
the up-front cost, you may want to consider switching the fixed-rate mortgage
on your old house for an adjustable rate on a new one. This could allow you to
trade up without increasing your monthly payments.
The type of
mortgage you choose also depends on how long you plan to stay in your new home.
A good mortgage lender can advise you on whether a fixed-rate is an advantage
is youre planning on staying for more than 10 years. A fixed-rate may be better
for long term owners who dont want to worry about rising mortgage payments.
Trading up may not be worth the move if youre planning on living in the
new home for only a couple of years. You might have to stay three to five years
for your house to appreciate enough to recoup the closing costs.
Conditions for a move-up havent been this good in many years, and you may not
want to wait much longer to consider it. An experienced real estate broker can
help you decide if buying a new house now is a good investment for
you. |
|
|
|
W. Troy Swezey is the author
of “CONDITIONS ARE RIGHT FOR BUYING THE HIGHER PRICED HOME YOU’VE
ALWAYS WANTED." As a Realtor at Century 21 Paul & Associates, he has helped
many individuals with their real estate needs. Visit his web site to download
his free e-book, “REAL ESTATE SECRETS EXPOSED.”
www.TroyIsMyRealtor.com or mail to: TroyC21@usa.net
|
|
|
|
|
|
|
Home
