To-do list when upgrading to a larger house
A lot is being said these days about how to downsize your house, but few are talking about how to trade up while purchasing a new home. There are a variety of reasons why you may be considering a larger house, including a growing family, a pet, a shortage of space, or the desire to have a home office. Make sure you follow our checklist to ensure you don’t miss anything while you’re upgrading…
This checklist should only be used as a basic reference, and you should always get specialised guidance from a competent real estate agent before relocating to a bigger property. You’ll need to think about a lot of factors, such as timing, equity, mortgages, and other requirements, in order for everything to operate well. However, once you’ve settled in, image how happy you’ll be in your new home!
Below is our checklist, which you are more than welcome to print and mark off as you go through the process.
• Conduct market research on the existing market
• Figure out how much your home may be worth – but be realistic about it!
• Obtain an appraisal of your house from an Estate Agent and request an explanation of their pricing.
• Inform your Real Estate Agent of your intentions.
• Choosing a Conveyancer is also important.
• Calculate your home’s value to see how much equity you have.
• Find out how much the home you desire is going to cost you
• How much can you borrow? Speak with your mortgage broker about your options.
• How simple will it be to purchase and sell – should you buy or rent?
• Make a budget for the relocation.
• Inform your real estate agent about the sort of house you’d want to purchase.
• Organize and conduct viewings (your agent should undertake this)
• Before you get too enthusiastic about seeing other people’s properties, check to see whether you are receiving any viewings on your current property.
• Accepting an offer before making your own is a good strategy.
• Organise surveys to gather information.
• Complete the last stages of your mortgage and insurance applications.
• Obtain frequent updates from your agent/conveyancer about the progress of your purchase.
• Sort out all of your critical purchasing documents for future reference.
• Choosing a moving company is important.
• Get your boxes and packing organised as soon as possible.
• Trade contracts
• Organize your change of address
• Close your sale as well as your buy, then relocate to your new home.
• Keep all of your documentation in a secure place.
• Check to see whether the SDLT forms have been submitted.
Remember that depending on your scenario or if a link in the chain breaks, the steps in this procedure may differ somewhat. The most essential thing is to stay in contact with your agent to find out what is presently occurring and to fill out papers, signatures, and information as quickly as possible in order to keep things moving forward.
Moving does not have to be a stressful experience, and the delight of settling into a new house with extra room is the ultimate reward! Get in contact with us right now to get started.
