Existing Owners Buying Another Property

In recent years, there's been a noticeable trend of families looking to move to larger homes. Many of these families purchased their initial homes around 2015, 2016, or 2017, and are now reaching out for assistance. The common theme is a need for more space, whether due to the addition of family members or the desire for a better school district for their children. This phenomenon is commonly referred to as "move-up buyers."

As we move through 2021 and 2022, more clients are expressing their desire to upgrade their living situations. They often say, "Zaid, I need a bigger home," or "I need a single-family house with a backyard for my kids." These requests highlight a significant shift in priorities, as families seek homes that better suit their evolving needs.

Why Are Families Moving Up?

Families are considering a move for various reasons:

• Growing family size: With the addition of a second child or more, space becomes a crucial factor.
• Educational needs: Parents may want to relocate to areas with better schools.
• Lifestyle changes: Some families might find that their current home doesn’t meet their needs anymore, whether due to stairs, size, or location.

Don't Wait for the Perfect Listing

A common mistake among clients is waiting for the perfect listing to prompt their decision to move. This often leads to missed opportunities. Many clients call after seeing a home they love, only to find out it's already gone. It's essential to be proactive rather than reactive in the current market.

Instead of waiting, I encourage potential move-up buyers to reach out early, even if they don't plan to move until later this year or next. Planning ahead can significantly ease the transition and ensure a smoother process.

The Planning Process

When we start the planning process, I typically guide clients through a 3 to 6-month preparation period. This involves critical questions such as:

• Should we keep the current home or sell it?
• If we keep it, how do we extract equity for the next down payment?
• What are the financial implications of selling versus renting out the existing property?

Having gone through this process personally and with many clients, I can offer valuable insights and support. My experience allows me to help families navigate these decisions effectively.

Reach Out Early!

If you're feeling like your current home is too small, or if the schools aren't right for your family, don't hesitate to reach out. Even if you're not ready to move just yet, talking to me can set the groundwork for a seamless transition when the time comes.

Feel free to reach out at 408-515-1613 or email me at [email protected]. I'm here to guide you through this process and make it as easy as possible. Looking forward to hearing from you soon!