When you’re shopping for a new car or anything else that impacts you personally, you probably have two little voices chatting in your head.
The first is saying, “This is what I want.” The second is asking, “Can I really afford this?” Ideally, both voices are in agreement and you’re able to buy what you want at a price that’s reasonable.
Of course, there are other times when you’ll need to compromise on some features in order to stay within your price range. This same dynamic plays out when you’re thinking of moving.
You may start wondering, “Is the type of house I want to get into really within my price range?” In fact, that question holds many homeowners back from even considering a move. They’re stuck wondering if they can get into the home they want.
If you’ve been wondering the same thing, why not find out? It’s relatively easy. The first step is to calculate how much your current property would sell for on today’s market. That figure is determined by many factors, but it’s mainly driven by what similar properties in your area have sold for recently.
Once you know what you can expect to get for your home, you’ll need to find out how much of a mortgage (if required) you qualify to receive.
The final step is to take a look at current listings in neighbourhoods you’re targeting and see which properties for sale fit within your budget. You might be pleasantly surprised to discover that the two voices in your head are in agreement, and you can get the home you want at a price you can afford.