April 16, 2024 | Buying

6 Tips For Move-up Buyers In Oakville

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Moving up from your starter home? If your family is growing and you need a more functional space, there are 6 tips we think you should consider before starting your home search. Keep reading to find out.

1. Get The Right Realtor

Partnering with the right real estate professional can make or break your experience. Work with someone who is experienced in both your current neighbourhood and the one you want to move to. You should also hire a realtor who works with buyers and sellers in your particular situation. 

If you work with someone who works mostly with first time buyers, or a condo specialist, they may not have the particular expertise you need to help you with a move-up sale/purchase. All real estate transactions are not the same, so you need to do your due diligence to find an agent with the specific skill set to benefit you.

2. Why Are You Moving Up?

Be clear about your reasons for moving up. Through this thought process, you may realize it’s not the right time to buy, or that it’s more strategic to sell first, or that you have different reasons for moving than you initially believed. 

Uncovering a clear motive of what’s driving your move allows you to come up with the right action plan for your unique situation; one that fits your timeline and expectations. You’ll also find the right property sooner once you’re clear on your goals.

3. Make A New Home Criteria List

Create a list of all the must-have features of your next home and be highly specific. Talk about bedrooms, bathrooms, layout, design, aesthetic, outdoor space, location, etc. Putting pen to paper makes it easier to make final decisions about what’s truly important. You may realize some things you initially didn’t care for are actually necessities, and vice versa.

4. Make Lifestyle List 

This real estate purchase may be your forever home. To feel comfortable for a lifetime, you need to be clear about your lifestyle goals. Beyond property specifics, consider what your ideal every day looks like. 

Think about your family dynamic, your social circle, your work obligations, and how you spend your down time. Do you have an active family? Are you a foodie? Do you need to be close to transit? Are you a nature enthusiast? 

Taking inventory of your life will help you narrow down the communities that align with your vision. The area you live in is just as important as the house you live in—in fact, it may be more important. You can renovate your home, but you can’t change your neighbourhood!

5. Purge Your Belongings

Moving up is the perfect time to size down your belongings. Why take old items to your new home? Maybe you never got around to clearing out the attic or the basement, or you might not have had the chance to empty every closet as the years passed. 

As you prepare your current house to sell, you’ll need to declutter and ready your property for staging. Take this time to dispose of the items that are taking up space, so you can move into your new home and your next life stage with a clean and organized slate. 

6. Decide Whether To Sell First Or Buy First 

Timing is important. If the market happens to favour buyers at the time you want to move, it could be advantageous to sell first. Selling first also means having more money to put towards the downpayment of your next home, and you won’t have to carry two mortgages. 

Buying first may make more sense for your scenario if you want the luxury of time, or if you can handle paying two mortgages while you’re in transition. 

Whatever your reason and no matter the season, if you consider these 5 tips, you’ll be able to save time and money during your purchase and sale. 

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