Can Your Current Home Grow With You?


Can Your Current Home Grow With You?
By Scott Rogers • September 5, 2024
I'd love for mortgage interest rates to not be the sub-text for most real estate conversations, but it's the world we live in right now. 30 year fixed mortgage interest rates were below 4% from May 2019 through March 2022. During that time, lots of folks bought homes, and lots of folks refinanced their mortgages to get to pretty low mortgage interest rates. Thus, many homeowners (with low mortgage interest rates) find themselves considering whether their current home can grow with them as their needs change. If you need another bedroom in your home (as your family grows, or as you start working from home) you could either... 1. Sell your home and buy a new, larger home. 2. Reconfigure our renovate your current home to get the extra space that you need. Given that most homeowners have super low mortgage interest rates, many such homeowners are leaning heavily into the second option -- staying and trying to allow your home to grow with your needs. But... it isn't always possible. Some homes just don't have the right amount of space, or the right space in the right space, to allow them to grow to fit your growing needs. And thus, some homeowners find themselves concluding that as much as they would like to stay in their home and keep their mortgage interest rate - they need to get to a new house to have a space that works for them for years to come. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 23, 2024 (unless otherwise noted).
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