Unsatisfied with the size of your house? Is maximizing the space with housing and furniture tricks not fitting the bill? You may want to consider upsizing your home into one with more space to suit your needs. Of course, upsizing isn’t a straightforward process, and you need to take several factors into consideration before you even begin searching for a bigger home.
Fortunately, the McIntosh Group has the definitive checklist you need to help you get started. Read on to learn about the most important considerations.
Consult your family and make a list of your needs
Unless you’re living by yourself, a big move requires input from the entire family. Talk to your spouse, children, or other people living with you to determine what the household needs in a larger home. For example, if you’re planning to have another child, you’ll want to ensure you find a home with the appropriate number of bedrooms. You might also want more bathrooms if your household is considerably large.
Something else to consider is finding a property with an oversized garage. An oversized garage can provide you with additional storage if you find yourself running out of space to store things in your home. Holiday decorations, off-season clothing, and other household items can be safely stored in a larger garage.
You’ll also want to make note of other needs, such as the size of a yard, the type of floor plan you want, and the number of floors your family prefers. The more thorough you are in your specifications, the easier it’ll be to narrow your search down.
Know which South Tampa area you prefer
Make a list of the South Tampa areas you prefer. Ask yourself the following questions:
- Do I want a seafront home? How close to the beach do I want to be?
- What about amenities? How far am I willing to travel to reach them?
- Do I want to be closer to the downtown area, or situated somewhere more suburban-like?
- If I have children, what about the schools?
Much like making a checklist of your needs, knowing the type of location you’d like to live in will also help with narrowing your search down. The more specific, the better.
Determine how much of a new home you can afford
As with buying any type of property, you’ll need to know how much of a home you can actually afford. The best way to determine this is by receiving a preapproval statement from a mortgage lender. By analyzing your financial history and credit score, a mortgage lender can determine how much of a loan you qualify for. The loan amount will determine how much of a property you can afford.
Never skip out on this step. Not only will it give you a better idea of what you can afford, but it also demonstrates a considerable amount of financial responsibility on your part. Both mortgage lenders and sellers prefer buyers who go out of their way to receive a preapproval statement and will give higher preference to buyers with preapproval than buyers without it. A single preapproval may make the difference between a seller accepting your offer and rejecting it.
Decide if you’ll sell your old home or buy a new one first
Figuring out the timeline for your big move is also a crucial step. Do you want to sell your old home first or buy a new one? Once again, consult your family to determine what is best for the entire household. If you need to sell your home first to help afford your new one, look into temporary housing such as a short-term rental or staying with other family or friends.
Typically, selling your old home first is preferred because you’ll be able to use the profits from your sale to put down a larger down payment for your new property. If you’ve resolved to buy your home first, consult your real estate agent to receive an estimate on how much your home would sell for in the current market. You don’t want to end up having to pay for two mortgages, only for your old house to sell for little.
Prepare to sell your home
Whether you’re selling your home before or after you purchase your new one, the process to sell your home is the same. The first step — know the South Tampa market. Your real estate agent will help you determine the best time to sell your property according to current market trends.
Once you’ve designated a listing date, it’s time to prepare your home for selling success. Deep clean, declutter, and depersonalize the entire house. Hire a professional home stager to make the house more attractive to your ideal buyers. Pro stagers know how to turn rooms into neutral yet appealing spaces that allow buyers to imagine themselves living there. You should also hire a professional photographer to take flattering pictures that emphasize your home’s curb appeal as well as the interior. The first thing buyers see when they browse listings is the preview image, which further demonstrates the importance of attractive, appealing pictures taken by a professional.
Find an experienced real estate agent
While it’s certainly possible to upsize on your own, you’ll save yourself a world of trouble if you hire an experienced, top-rated real estate agent to assist you throughout the process. The talented agents of the McIntosh Group have been voted America’s best real estate team in Florida in 2020 and ranked number one in the Tampa Bay market in 2021. They’ll help you sort through the number of homes for sale in South Tampa to find the perfect home that’ll suit all of your needs.
Upsizing is an involved process with many considerations to be had, but a talented agent with the right skill set will smooth and quicken the process. When you’re ready to take the next step, reach out to one of the local agents at the McIntosh group for expert guidance.