Conditions Are Right For Buying The Higher Priced Home You'Ve Always Wanted

Higher interest rates and home prices in the past have kept home owners from purchasing larger homes. The current real estate market conditions, however, are encouraging for many home owners who want to "buy up" to higher priced homes with more to offer.

If you are considering trading up for a larger and more expensive home, conditions for doing so couldn't get much better. Interest rates are the lowest they've been in two decades, and home prices in many regions are the most affordable they've been in years.

You should consider a few factors before reaching a decision to trade up:

Can you afford higher mortgage payments and property taxes?
Is your credit record solid enough to qualify for the probable higher monthly mortgage payments?
Do you plan to stay in your new home long enough to recoup your investment?

Obviously, you'll need to sell your current home before getting serious about trading up to a new one. A healthy real estate market indicates that you'll have little trouble selling your existing home. The national Association of Realtors reported in August that sales of existing single-family homes are rising steadily, especially among first-time buyers. Affordable home prices and low interest rates could make the starter home you purchase several years ago particularly attractive.

If you can afford the up-front cost, you may want to consider switching the fixed-rate mortgage on your old house for an adjustable rate on a new one. This could allow you to trade up without increasing your monthly payments.

The type of mortgage you choose also depends on how long you plan to stay in your new home. A good mortgage lender can advise you on whether a fixed-rate is an advantage is you're planning on staying for more than 10 years. A fixed-rate may be better for long term owners who don't want to worry about rising mortgage payments.

Trading up may not be worth the move if you're planning on living in the new home for only a couple of years. You might have to stay three to five years for your house to appreciate enough to recoup the closing costs.

Conditions for a move-up haven't been this good in many years, and you may not want to wait much longer to consider it. An experienced real estate broker can help you decide if buying a new house now is a good investment for you.

About The Author

W. Troy Swezey is the author of "CONDITIONS ARE RIGHT FOR BUYING THE HIGHER PRICED HOME YOU'VE ALWAYS WANTED." As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, "REAL ESTATE SECRETS EXPOSED." http://www.TroyIsMyRealtor.com or mail to: TroyC21@usa.net

MORE RESOURCES:

ERA Pacesetter closes real estate business - Bizjournals.com

Learn to Profit from Real Estate - Even in Tough Markets - MarketWatch

Tokyo Replaces Shanghai as Best Asian City to Buy Real Estate - Bloomberg

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/2-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601101%26sid%3DaIP5Kj6fVj6M%26refer%3Djapancid=1277107960ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNGcVsj3CPZb_Mcn2PCg4FnZSAG5EQTokyo Replaces Shanghai as Best Asian City to Buy bReal Estate/b/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-14 (Bloomberg) -- Tokyo overtook Shanghai as the best Asian city to buy breal estate/b as investors seek less risky investment for 2009, a survey by the Urban b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/2-1fd=Rurl=http://www.reuters.com/article/marketsNews/idUST27950420081203cid=1277107960ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNEUb27axzrtHTzWft_cmE9lY9fb4AKeen to invest in Asian breal estate/b, consider Tokyo/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277107960hl=ennobrall 12 news articles/nobr/a/font/div/font/td/tr/table

Nokomis Real Estate Ventures LLC files bankruptcy petition - Bizjournals.com

Citigroup Said to Cut Most of Asia Real Estate Team After Slump - Bloomberg

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Neuberger Berman Real Estate Securities Income Fund Inc. Announces ... - MarketWatch

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UPDATE 2-Sibir market value halves on real estate buy - Forbes

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/6i-0fd=Rurl=http://www.guardian.co.uk/business/2008/dec/03/sibir-russia-oil-property-tchigirinskicid=1277136024ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNErvg9-VK_LYPOUTbSRQ-zlkuaKwAimg src=http://news.google.com/news?imgefp=G0Z9onrcFO0Jimgurl=static.guim.co.uk/sys-images/Business/Pix/pictures/2008/12/03/sh4.jpg width=80 height=48 alt= border=1brfont size=-2guardian.co.uk/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/6-0fd=Rurl=http://www.forbes.com/afxnewslimited/feeds/afx/2008/12/03/afx5771724.htmlcid=1277136024ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNHub57fyVkld-3eNMgk_vpJ70H_2AUPDATE 2-Sibir market value halves on breal estate/b buy/abrfont size=-1font color=#6f6f6fForbes,nbsp;NYnbsp;-/font nobr10 hours ago/nobr/fontbrfont size=-1Sibir had already outraged minority shareholders when it said in October it would buy some $157 million worth of breal estate/b from its key owner, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-1fd=Rurl=http://www.reuters.com/article/rbssEnergyNews/idUSL364626620081203cid=1277136024ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNH2HvXBqXlys0fnBxIZ6CgWQBdikAUPDATE 1-Sibir shares sink 30 pct on breal estate/b buy/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-2fd=Rurl=http://en.rian.ru/business/20081203/118667008.htmlcid=1277136024ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNGTwYnYrazqixGIs0IHs8hcQtgMkwSibir Energy to buy $340mln breal estate/b assets from developer - 2/a font size=-1 color=#6f6f6fnobrRIA Novosti/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-3fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3DaS_Y7fzEKDYc%26refer%3Dhomecid=1277136024ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNE-c9IDrB-A9H56P7KY6tClW_zSKQSibir Plunges 57% on Russian Billionaire ‘Bailout’ (Update4)/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/6-4fd=Rurl=http://www.guardian.co.uk/business/2008/dec/03/sibir-russia-oil-property-tchigirinskicid=1277136024ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNErvg9-VK_LYPOUTbSRQ-zlkuaKwAnobrguardian.co.uk/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/6-5fd=Rurl=http://www.themoscowtimes.com/article/600/42/372867.htmcid=1277136024ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNHtDUlSXCM3qqOMj9b1c9PxiyJg6QnobrThe Moscow Times/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277136024hl=ennobrall 81 news articles/nobr/a/font/div/font/td/tr/table

Icahn Sues Real Estate Company Over Debt - New York Times

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://www.nytimes.com/2008/12/03/business/03realogy.html%3Fref%3Dbusinesscid=1276968847ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNESQLr-F_5n3BIteYEUJ9pd3x3qbAIcahn Sues bReal Estate/b Company Over Debt/abrfont size=-1font color=#6f6f6fNew York Times,nbsp;United Statesnbsp;-/font nobr22 hours ago/nobr/fontbrfont size=-1Mr. Icahn’s investment firm filed a lawsuit last Wednesday against a breal estate/b company controlled by Leon D. Black, a prominent Wall Street buyout b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-1fd=Rurl=http://www.reuters.com/article/ousiv/idUSTRE4B27IQ20081203cid=1276968847ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNEqdAQqCSr3G6uteFAQ-il5cOdmZAIcahn sues Realogy over debt deal/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276968847hl=ennobrall 21 news articles/nobr/a/font/div/font/td/tr/table

Whitehall Funds Lose Their Luster - Wall Street Journal

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://online.wsj.com/article/SB122826598899374457.html%3Fmod%3Dgooglenews_wsjcid=1277094278ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNErBfyTG_xDAsDLHasb-dZ0rGUWogWhitehall Funds Lose Their Luster/abrfont size=-1font color=#6f6f6fWall Street Journalnbsp;-/font nobr17 hours ago/nobr/fontbrfont size=-1By ANTON TROIANOVSKI and LINGLING WEI Goldman Sachs Group Inc.#39;s Whitehall family of breal-estate/b funds is struggling with weak performance and potentially b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-1fd=Rurl=http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0351371720081203cid=1277094278ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNGwXo8ZQcDKohasr-PWQ73gr2VRswGoldman Whitehall head warned of firm#39;s exposure/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-2fd=Rurl=http://www.reuters.com/article/marketsNews/idUSBNG24933320081203cid=1277094278ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNFj4CnCiWDLs89SVqlYkBmKA7qPqQGoldman Whitehall funds hit by property slump-WSJ/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277094278hl=ennobrall 12 news articles/nobr/a/font/div/font/td/tr/table

Inland Real Estate Auctions, Inc. Sells Industrial Site in Seneca ... - MarketWatch

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.marketwatch.com/news/story/Inland-Real-Estate-Auctions-Inc/story.aspx%3Fguid%3D%257B11D52A18-4076-4474-9C4A-F7F53F1C183D%257Dcid=1277200823ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNHub4QTgotdeFHrYWw7TImbq3rxRQInland bReal Estate/b Auctions, Inc. Sells Industrial Site in Seneca b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr4 hours ago/nobr/fontbrfont size=-1One of the nation#39;s top auctions firms, conducting transactions from coast to coast, Inland bReal Estate/b Auctions, Inc. is a leading provider of accelerated b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://www.marketwatch.com/news/story/KPMG-Corporate-Finance-LLC-Taps/story.aspx%3Fguid%3D%257B0B78E8A1-8AEC-4007-AF82-59A1AB3B7581%257Dcid=1277200823ei=wwo3SbmWFJXFmQewhLyyDwusg=AFQjCNH__n8d7gHPE57BAAoN3lcxuasfIQKPMG Corporate Finance LLC Taps Renowned Auctioneer Frank J b.../b/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277200823hl=ennobrall 11 news articles/nobr/a/font/div/font/td/tr/table

Real-Estate - Google News

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