Are you having trouble choosing between buying versus refinancing? These are two alternatives that have their share of pros and cons. You will need to consider a wide range of factors before you arrive at your final choice. This is an area where the aid and counsel of a real estate agent in Phoenix is sure to be of assistance.
You can decide whether to refinance your home or buy a new one altogether. Do you have children or are you expecting another child? If the home is simply too small for you, you have your choice of renovating it to make it bigger or simply moving to a new and larger property.
On the other hand, you may have recently sent a child off to college. You and your spouse may have divorced. You may have lost a dear family member who was living in your home. If this is the case, you will now have the option of downsizing your lifestyle in a number of ways.
At this point, the question of “Should I refinance my mortgage?” is bound to come up. It matters how you answer this question. Your best bet will be to consider the current state of your finances as well as your lifestyle. These are the two factors that are bound to have the biggest amount of impact on your ultimate decision.
Refinancing your home may give you a much needed amount of cash to play with. Armed with this upfront amount, you can choose to pursue a number of courses. You can use the money to pay off existing debts and buy the items that you need to make your living experience a much more comfortable one.
You can also use the money you get from refinancing your home to make a series of much needed renovations. These can include necessary repairs to improve your general living conditions. They can also include renovations that are made for the sake of raising the ultimate resale value of your home in case you decide to sell it in the future.
Of course, the money you may get from refinancing your home may not be as much as you think. It may not even be enough to get you to reconsider selling your home and buying another one. If this is the case, you may well simply commit to the moving option.
At the end of the day, the choice you make may come down to a lifestyle issue. The answer to the age old question “Should I refinance my mortgage?” may depend on what you plan to do with the next few years. For example, if you want to expand your family or, on the other hand, downsize your life, you’ll need to make changes.
To do this, you’ll need to make a conscious choice between buying versus refinancing. If you want to stay in your home after a timely series of renovations, you’re very likely better off refinancing. This also holds true if you are currently in a bit of financial strain. Refinancing will free up your capital to do repairs if needed.
However, if you have no intention of staying in your home and prefer to make a change, it’s probably better to buy a new property. You may want to upgrade or downsize your current living arrangements or move to another part of the community. You may simply want a nicer house that is equipped with more modern design features.
If this is the case, you’re going to better off making arrangements to purchase a new home. Of course, this is a course of action that should only be undertaken after a course of due consideration. Your primary concern should lie with making sure that you can afford to buy a new home. If you can swing it, now is a great time to do it.
The question, “Should I refinance my mortgage?” is one that should always be answered by an expert. My name is Brian Eastwood. I’m a real estate agent in Phoenix with all of the necessary knowledge, skills, credentials, and experience. I can help you review your options in order to arrive at the best possible solution for your present issue.
There is no time like the present to get familiar with a real estate agent in Phoenix. The market in this city is at an all-time high of development and profitability. A real estate expert can help you choose between buying versus refinancing. Get in touch with me today by emailing email@example.com or calling 602-330-6813 to learn more about what I can do to help you.