We now have a JUMBO loan up to $1.5 million with as little at 3.5% down… This is the lowest down payment on a jumbo in the industry!

CALL ANYTIME

720-298-8084

What To Do When You Outgrow Your Home

Lingows Admin • Jan 18, 2021

What To Do When You Outgrow Your Home


To most homeowners, there comes a time when you feel your current home can’t contain you and your family. The first home you bought feels either too small or just not good for you anymore. Careers change, families grow, and other unexpected life events can come your way and make you realize that your current home is running out of rooms. Your situation when purchasing your current home might have changed and it’s no longer comfortable or it might just not be compatible with your new needs. Whatever the case is, you may currently be outgrowing your home and would need to upsize for more space and for family satisfaction.


What should you do next from here? Make a move to your second and bigger home or improve the one you already have? We’ve done some research and discovered some personal and professional insight from top home financial specialists who faced the problem of outgrowing their homes and what they did in response.


Other signs you might be needing a new home are listed below:


  • You have a better financial shape: In the case of a job promotion or an inheritance can cause you to wantto move to a bigger home or a more desirable neighborhood. An improved finance gives you the chance to upsize and live comfortably.

 

  • Not enough room to entertain:You have a bigger family and more friends, you find dinner parties logistically challenging, you think of how everyone can get a space around the table. Small parties are as well a challenge for you. Admit it: it’s time to spread your wings and get a bigger place.

 

  • Longer commute:You finally got a promotion or a new job, but you have a challenge of a longer commute to your job. As you get a better career, you might find your home inconvenient in terms of location. You might consider getting a new home closer to the officefor a better work life.

 

What to do in such conditions


If you find yourself in any of the above conditions, it could be time to make a change. But before deciding to get an upgrade, it’s best to know what exactly you’re going for. Study the various home loans to know which of them is suitable for you and what size of home you can afford. First of all think of your relocation costs, can you afford the service of a moving company to make it easier for you or you would just do it yourself?


Go out and make the difference, look for a suitable neighborhood. Take your kids into consideration and the available schools in your desired location. Think of the neighborhood safety, the crime rate, andothers to make sure you don’t get to regret your option of moving. And finally and most importantly, go house hunting! Search for a perfect home that meetsyour needs and was absent in your previous home.

Here’s What You Can Expect in Refinancing

Here’s What You Can Expect in Refinancing

By Lingows Admin • 23 Aug, 2021
After we determine that a refinance will be beneficial for you, we start the application. Much like your original mortgage application, this one collects general information and asks for documentation of your income and assets.
Do I Need A Rental Property Management Company?

Do I Need A Rental Property Management Company?

By Lingows Admin • 22 Aug, 2021
Whether you still thinking of getting into the rental property business or you’re just closing on your 50th investment property, you still have several decisions to make relating to how you will manage all your investments. This is usually among the biggest, toughest decisions a landlord is faced with whether they should hire a property management company. Most landlords are seen managing their investment properties all by themselves or by the help of a single employee, known as a resident manager.
Reverse Mortgage Independent Counseling

Reverse Mortgage Independent Counseling

By Lingows Admin • 19 Aug, 2021
A very important and required step in the reverse mortgage process is independent counseling. Prior to application, all reverse mortgage applicants must receive independent counseling. This is a step that is in place for your protection and is required by law.
Here’s How My Clients Beat the Clock By Preparing Ahead

Here’s How My Clients Beat the Clock By Preparing Ahead

By Lingows Admin • 16 Aug, 2021
Do you remember the story: The Little Boy Who Cried Wolf? I have to admit – sometimes I feel as if some of my clients view me as the little boy from the story when I’m repeatedly and passionately asking them to prepare early for the mortgage process ahead. I’m sending this email to explain how this preparation can make a tremendous difference. Please read on.
Here’s One Critical Question Every Home Buyer Should Ask

Here’s One Critical Question Every Home Buyer Should Ask

By Lingows Admin • 09 Aug, 2021
Realistically speaking – how long do you plan on living in the home you’re hoping to purchase? More times than not, my clients tell me they’re planning on living in their home forever. However, most real estate professionals I’ve spoken to on this topic suggest that the typical family’s home needs change approximately every five to seven years. This statistic might surprise you – it certainly surprised me!
Here Is One Question Everyone Should Ask Before Refinancing

Here Is One Question Everyone Should Ask Before Refinancing

By Lingows Admin • 02 Aug, 2021
Realistically speaking – how long do you plan on living in the home you’re hoping to purchase? More times than not, my clients tell me they’re planning on living in their home forever. However, most real estate professionals I’ve spoken to on this topic suggest that the typical family’s home needs change approximately every five to seven years. This statistic might surprise you – it certainly surprised me!
Frequently Asked Questions About Reverse Mortgages

Frequently Asked Questions About Reverse Mortgages

By Lingows Admin • 26 Jul, 2021
In the reverse mortgage process it is very common for questions to arise that are similar in nature from one customer to another. Below I have listed some of the frequently asked questions that we receive and some factual responses for your information.
Jumbo Loans Are Here!

Jumbo Loans Are Here!

By Lingows Admin • 12 Jul, 2021
Have you taken advantage of the great rates available on Temporary High Balance or Agency Jumbo loans? If not, you may need to do so sooner rather than later. With these loans, Fannie Mae and Freddie Mac are authorized to purchase mortgages that are up to 125% of certain high-cost areas’ median home values, not to exceed a preset limit. Implemented as part of the 2008 stimulus package, these loan offerings were intended as a temporary measure. They have already been extended once, and limits have been reduced.
How Can You Buy And Remodel With One Loan?

How Can You Buy And Remodel With One Loan?

By Lingows Admin • 05 Jul, 2021
Most mortgage loan programs require a property to be in sound condition with no structural defects or required repairs. Not the 203k. It’s made for homes needing anything from light spruce up to major repairs, improvements or new additions. Combine Purchase and Improvements The 203k loan covers your purchase price and the cost of improvements. The proposed work must be supported by a “value upon completion” appraisal. You can save by financing renovation costs into the original mortgage rather than racking up credit card bills or dipping into reserve savings later.
The Return Of The HELOC?

The Return Of The HELOC?

By Lingows Admin • 28 Jun, 2021
Home Equity Line of Credit Once upon a time, HELOCs were promoted as a great way to shop for life’s luxuries. New cars, vacations, furniture—you name it, and a HELOC could likely help you buy it.
More Posts
Share by: