No matter how much you love your current home, you may still be dreaming of the day you can buy up into a better home in a better neighbourhood.
Is that day today or a few years down the road?
First, make a list of all the practical reasons why it might be time to move up. Those reasons might include features such as: more bedrooms; proximity to work and school; a larger backyard with trees; nearby parks and walking paths; and, better access to things you enjoy, like theatre.
Next, make a list of the emotional reasons for making such a move. Those reasons might include memorable get-togethers with friends on a more spacious deck; an easier and less stressful commute to work; more family time with the kids; and, enjoyable Saturday golf at a nearby course.
Finally, take a financial snapshot to determine if you can afford to move up. You’ll need to get a good idea of what your current property will sell for in today’s market, the average price of homes in your desired neighbourhood, and how much mortgage you can afford.
Once you have all of that down on paper, you’ll have a clear picture of your readiness. If the practical and emotional reasons for buying up are compelling, and you can afford to make the move, then, you have your answer.