As Reno residents continue to shop the market, homebuyers are considering their options when upsizing. From remote workers needing new office space, to the quarantine baby boom making space for nurseries an essential, those looking to make their next move are in need of more space for one reason or another. Luckily, the Reno/Sparks Association of RealtorsⓇ (RSAR) has some helpful tips for buyers and their Realtors as they begin their search.
Want vs. Need
It’s easy to get carried away when upsizing. When shopping, be realistic about you and your needs in order to avoid excessive space. It’s common that homebuyers overestimate how much room they actually need in their new home. We encourage realtors to have room quantity and square footage estimates in mind before showing a home on the market.
Seeing the Future
At the same time, it’s important to consider future plans and how that affects your needed space. Are you looking to host every holiday? Do you anticipate any familial shifts, in or out? Visualize you and your family in the next 10 years, and include that in your upsizing needs.
Qualify before you Amplify
Never shop for more than what you can afford. More space typically includes a higher price point, so RSAR encourages realtors and buyers to feel confident and informed about what you qualify for. It’s recommended that shoppers get pre-approved prior to shopping for a larger home, so that they have a better understanding of what’s available for their budget.
Consider your Investment
Will this be your forever home? If not, consider the resale value, and speak to your Realtor to get their thoughts on the investment. We’re not fortune tellers, but we can advise or recommend if you’re looking for an expert opinion.
Searching for a new home to upgrade into can be a daunting task, but with a qualified Realtor on your side, you know that you are in good hands to look holistically at your home buying needs.