What Move-Up Buyers Need to Ask Themselves FIRST Before You Think About Going Anywhere

Welcome to the second article in my 5-part series, designed as a comprehensive “how-to” guide for moving up to your next home with as little stress as possible. Whether it’s your first time moving up or you’ve done it before, this series is for you.

When you’re ready for a new home but also have one to sell or want to rent out your current home, the stakes are much higher. This time around, you’ve got more to consider, plan, and get right than when you bought your home.

In this second article of the series, we’ll delve into what you should expect for your next home by asking two key questions. You’ve already decided it’s time to move, but what do you need and want this time around?

For this home purchase, it’s crucial to be more methodical and purposeful than when you bought your current home. That’s why I advise my clients to start thinking about buying their next home well in advance, ideally at least a year beforehand. This proactive approach allows you to fully understand all your reasons for moving and reduces the likelihood of making decisions you’ll regret.

Before you even start browsing online listings or attending open houses, you must answer TWO very important questions FIRST:

1. “How long do I (we) want to live in this next home?”

This question is paramount and must be addressed FIRST—before you begin your house-hunting adventures! Your answer will help you determine your must-haves and areas where you’re willing to compromise.

Consider this: Your answer to “how long” dictates everything else related to buying your next home. It’s also how you’ll narrow down your criteria list. For example:

• If this is your “forever” home, perhaps waiting a year to save up for everything you want is the right approach.
• If you plan to live in this next home until your kids start first grade, then maybe it’s just a 5-year home with specific needs and wants tailored to that timeframe.

YOU get to decide how long. Once you do, the answers to the rest will become clearer. But decide on the duration FIRST.

2. What is the #1 driver of my (our) decision to move?

This answer will guide your choices on what to compromise on and what you absolutely must have for your next home. Notice how it complements the first question? It can also influence the timing of your move.

Here are some examples:

• If you’re moving for the schools and your kids are starting school next year, you’ll need to expedite the process. This doesn’t mean you’ll take shortcuts or have to make major compromises.
• If your kids aren’t school-aged for a few years, you can afford to take it slower, which is the best option.

If you’re moving for schools, you might need to accept a longer commute or settle for a smaller-sized home to be in the desired school district. “Moving for schools” is just one example of a main driver for your next move. You might have other reasons, like shortening your commute, being closer to family, or having better neighborhood walkability.

Whatever it is, your answer will make it easier to determine what you’re willing to compromise on. Remember, regardless of your budget, buying your next home involves some give and take.

Answering these two questions FIRST—before spending Saturdays at open houses—will streamline the rest of the process and increase its effectiveness and success. Take your time with these questions, even before you’ve officially decided it’s time to move.

Now that you’ve answered the first two questions and are clear on your objectives, it’s time for the fun part!

Picture Your Dream Home

Gather everyone who will live in the next home and brainstorm. You’ll want their input on what they want and what they absolutely don’t want. Some concerns may be more cosmetic and easily addressed in a new home, but it’s essential to consider everything.

Here’s a helpful guide for your brainstorming session:

• What aspects of your current home do you dislike, beyond your main reason for moving?
• What do you need now that you didn’t before, considering your plans for the next 5 or 10 years?

Each person or family is at a different stage in life with evolving needs and desires. Your next move should cater to these new and upcoming stages.

Maybe now you need more space for entertaining, a home office, outdoor gardening space, a playroom, additional bedrooms and bathrooms, increased storage, better schools, or a larger kitchen. Or perhaps you’re downsizing and need to avoid stairs.

Whatever your requirements, ensure you’ve considered all possibilities for the duration you plan to live in the next home.

Also, don’t let others’ opinions sway you. Make decisions based on what’s best for you and your immediate family.

A Word of Caution: No Open Houses!

None of the above steps involve looking at homes or wasting time at open houses all day on Saturdays. Wouldn’t you rather be doing almost anything else?

In fact, I advise against viewing any homes at this stage. This is the “thinking stage” of buying a home. Viewing homes prematurely can cause major issues and distractions.

While it’s tempting to start browsing listings, trust that following these steps will make the home search more enjoyable and rewarding. Put down the Zillow and focus on answering the questions above. That’s all you need to do in this initial step. (Plus, when it’s time I’ll share two online home search options that are more effective and user-friendly than Zillow.)

It may not feel like progress because you aren’t actively doing anything, but taking time to think and plan your move will enhance the next steps.

I’m eager to hear your answers to these questions and discuss what you need in your next home. Are you wondering if your desires for your next home are realistic? Can you get everything you want? These are excellent questions, and there’s only one way to find out!

Contact me to discuss your answers, and I’ll provide honest feedback on your needs and their feasibility. If certain desires aren’t realistic in this market, I’ll suggest alternative approaches to get you as close as possible.

Now that you’ve clarified your wants and needs for your next home, it’s time to explore how you’ll finance it! Stay tuned for next week’s article: The Big Move-Up Question: How Do You Buy and Sell at the Same Time?