Why NOW Is The Best Time To Upsize Your Home

 

The best thing to do in this crazy market is to upsize. To buy a bigger, larger, more expensive home.

Why? Don't believe me? Watch the next two minutes.
 



So if you're looking at upsizing your home and you're wondering, well, the market is, ah, this, that bananas, whatever the word is, well let me break it down for you and make it simple. Six months ago, home prices were trading for approximately 20 to 30% more.

So let's look at the analysis. Let's say your home today is worth $1 million. Six months ago, it was probably worth 1.2. The home you're looking to buy today is now trading for $1.5 million. The home, that same home, was 20% more expensive six months ago, trading at approximately 1.8 million. Now the home you're looking to buy, which was 1.8, has been discounted $300,000 to today to bring it to 1.5 whereas the home you're selling has been discounted $200,000 from its height. So therefore you're sitting at $100,000 variance to you, the buyer, if you are looking to buy a bigger home. In addition to that, the $1.5 million home probably was trading greater than 1.8 because the more expensive the home, the more of a discount it has taken over the last six months.

And that's why now is the best time to upsize, if you're thinking about it. Who you work with matters.