Scottsdale Homes: Deciding Whether To Stay Or Go

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A lot of people who own Scottsdale homes still cannot decide whether they should stay or go. In fact, this is a dilemma other home owners these days. While we can relate to this concern, we might not have at least $100,000 and a professional team of designers to bring the spark of our home. So, how exactly do you know if it is time to reach into our pocket to improve our home or cut and run?

The Right Time to Stay

• You are almost done with mortgage payments. You should stay in your Scottsdale homes if you are close to paying them off in full. After completing your mortgage payment, you will be able to own your house outright. Purchasing a new house would mean taking on a mortgage for fifteen to thirty years or having a big amount of cash. Unless the home you will move to fits your lifestyle or you have to sell to downsize, real estate professionals suggest staying put.

• You have bad credit – If you cannot get qualification to a loan due to bad credit or you get qualification; however, you need to put more down payments or pay a high interest rate, it might best to move out.

Depending on the last time you purchase any of the available Scottsdale homes, obtaining a mortgage is likely to be tougher than you think. Lenders tend to conduct a review of your debts, income, liabilities and assets to ensure that you are just below the maximum debt-to-income-ratio. Hopefully, your credit is still good since your last house purchase.

• You have saved cash for renovation. Currently, you think you have unpleasant floors and an embarrassing kitchen. You probably don’t need to purchase a new home. Your current home is good enough and you just have to renovate it. Depending on your savings or equity, you could give your present home an overhaul and bring back its life. Make sure to talk with a Scottsdale homes expert to get some guidance on any change that you wish to make. With this, you can get a decent investment return to let you recoup some money as you prepare your property for a sale in the future.

When to Go

• Your house has become too spacious. This can take place after your kids have gone to college or to live on their own. Perhaps some rooms have been empty and you cannot decide whether to transform them into a sewing room, media room or home office. Your reason to sell your house now is to downsize on a smaller house.

• You can cash out and cash in. You can roll all the equity you gain in your home into a new loan to get a bigger and more updated one. Also, you may have to pay lower interest rate than what you are paying now.

• The neighborhood is changing- The neighborhood was perfect the time you moved in. Block parties, friendly neighbors and lemonade parties were all there. However, today you don’t find the place safe now that you have to double-check your locks before you go to bed.

If you want to know more about beautiful SCOTTSDALE HOMES, contact Scottsdale Real Estate Expert, Jen Wehner today at 480-748-6925 or Jennifer@JenniferWehner.com