Adam Chinn

5 Advantages for Move-Up Buyers In This Market
November 13, 2009 ·  

moving upFive reasons current home owners should consider upgrading to a new home.

1. Interest rates are at historic lows: Lower interest rates means you can now buy more home then you could have a year or two ago.

2. Prices have come down: Even if your current home may be worth less than the last peak in the market, the next home you are looking for will probably be as well.  The percentage decrease will actually help you get more house when buying up to a larger home.

3. There are still a good amount of homes on the market right now, both new construction and existing, giving you lots of choices and negotiating power.

4. You can move in to your new home faster, as many builders either have completed homes in inventory or they can start working right away due to the production slowdown.

5. You may have outgrown your home, but its probably someone else’s ideal starter home. With the $8,000 tax credit just recently being extended and the new $6,500 tax credit for move up buyers, now is the time to market your home to first-time home buyers.

For more information about the tax credit please visit http://www.federalhousingtaxcredit.com/

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Comments

3 Responses to “5 Advantages for Move-Up Buyers In This Market”

  1. Larry Franzella on November 13th, 2009 1:49 pm

    Adam…

    Great points – you nailed it.

    Larry

  2. Kathy Wall on November 14th, 2009 6:27 pm

    You hit the nail on the head, Adam! This is a great time to buy…We just need to get the word out to those folks who are sitting on the fence waiting for the “bottom.” I think it’s here and they need to get moving.

    Kathy Wall

  3. Brian Boisson on November 16th, 2009 9:46 am

    Adam,

    Thanks for highlighting some “food for thought” for those considering moving up.

    It really is a great time due to all of the facts you mentioned plus it allows a move up buyer to base the property taxes on a lower rate (loer purchase price) than if they waited until thier current home went up in value and then had to pay more for the move up home.

    Thanks,

    Brian Boisson

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