Buying your second home

Purchasing your first home is a big decision, but when it comes to purchasing your second home, there are other factors to consider.  Berkshire Hathaway HomeServices Indiana Realty Trusted Advisor Julie Downham recommends assessing your needs and wants in a second home before you start to look at what’s available on the market.

Move up buyers, those who are buying a bigger home, often wonder if they should sell their current home first, or make an offer on the home they are hoping to move into.  “Some people prefer to move first if financially it makes sense.  They can get their home staged and ready to sell.  For others, there are financial limitations that make it so you have to sell your home first,” Trusted Advisor Julie Downham said.

If you’re thinking of buying a bigger home, Downham recommends thinking about how you will furnish that new home, and even consider monthly expenditures.  “Some things to think about are utility bills, and other financial considerations,” Downham said.

Downham also encourages homebuyers to think into the future.  “For most people, their home is their largest investment, so it’s really important for prospective buyers to make good decisions on their home,” Downham said.