Have you been thinking about fixing up your starter or mid-range level home to make it a bit more luxurious? Before you begin renovations, you may want to check out the luxury home market and consider moving up instead of fixing up! Homes that are priced in the top 25% of the price range for any given area are generally considered premium homes, and in today’s real estate market, there are some great deals out there in the premium home market. Meanwhile, there is still a lot of demand from buyers for starter and mid-range homes, meaning it’s a great time for you to sell your current house. So, it’s a seller’s market for less expensive homes and a buyer’s market for premium homes. This confluence of markets means it is the perfect time for you to sell your starter or mid-range home and move up to luxury home!
You may think that renovating your current home to turn it into your dream home will be less expensive than purchasing the luxury home of your dreams. Before you come to that conclusion though, you should take the time to list the characteristics you are looking for in your dream home so you can see just how much you would need to do to “fix up” your current home. Then look at the luxury homes available on the market and compare the cost of “fixing up” vs. “moving up”. It’s also a good idea to meet with an experienced Realtor in your area who can help you determine how much your current home is worth in today’s market.
There are other advantages to relocating vs renovating and staying in your current home:
- You will get a fresh start. Perhaps it’s time for you to push the reset button and start fresh somewhere new. There is no better way to do that than by moving into the home of your dreams!
- Starting new family traditions. When you move to a new area where you don’t know a lot of people, you tend to focus more on your own family. You will eventually get to know people in your new community, but until then you can spend time forging new traditions with your family.
- Tax Perks – There are tax benefits for both buying and selling a home. Since you would be doing both, you would see advantages on both ends. 8 Tax Benefits for Buying and Owning a Home
- No Renovations – Imagine yourself living with months of workers renovating your home vs walking into a move-in ready luxury home!
The bottom line is that now is the ideal time to take advantage of the real estate market to move up into your dream home.
Are you ready to SELL your home? Call the TAMPA BAY real estate professionals, Linda & Craig Nowicke at Tampa Realty Now with RE/MAX ACR ELITE and let them assist you in getting your home STAGED, PHOTOGRAPHED and SOLD for the highest possible price! CALL THEM TODAY at 813-728-3880 or 813-675-5030.