Login to your Account
Search Santa Fe Homes New Listings Newly-Priced My Listings Neighborhoods Las Campanas TESUQUE HISTORIC EASTSIDE Search Land

Upsizing Your Santa Fe Home – Is now a good time?

There are Santa Fe residents who want to sell their homes and buy larger ones, but are waiting for an improved real estate market. It makes sense that home owners want to get the most money out of their sale to have a good amount for the down payment on a larger home.

However, the benefits to upsizing in a down or recovering market may outweigh the drawbacks of having less profit from the sale of your current home. Now may just be the perfect time to purchase that new larger home of your dreams.

Upsizing in a recovering real estate market like we have now can be an advantage for you, because although you might get less for the home you sell, you can also purchase a larger home for less. For example, a Santa Fe home owner could sell a $200,000 home for 10% less (or $20,000) than desired, but immediately purchase a $300,000 home for 10% less (or $30,000), putting the owner $10,000  ahead.

Additionally, the benefit of locking in a loan at the current low rates can save hundreds per month in payments, and thousands of dollars in savings over the course of the loan. Depending on your current loan’s interest rate, your new payment on a bigger house could even be the same or less! Check with a financial consultant or mortgage specialist to determine if upsizing now could be beneficial to you.

Contact me for more market information or to purchase that home you’ve been waiting for!

About Me Santa Fe Real Estate Market Reports Market Snapshot News About Santa Fe