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4 Strategies For Home BuyingAs a buyer, you now have plenty of choice, as well as the upper hand in negotiations. You also still have the benefit of low interest rates. If you're tempted to upgrade yet worry that your home isn't worth what it was six months ago, keep in mind that the home you want to buy is worth less too.Moreover, if prices have fallen at the same rate on all homes in your market, the discount, measured in dollars, will be bigger for a more expensive house. Say you're in a $200,000 home and want to move up to a $500,000 home. Your cost of upgrading will be $300,000. But if prices drop 10 percent, your current house is worth $180,000; the one you've got your eye on is worth $450,000. Cost to upgrade: $270,000. Last fall Vinse and Kathryn Sullivan, 29 and 28, of Charleston, S.C., decided they wanted to move from their 2,000 square-foot home in the western part of the city to a larger one on the north side, putting them closer to Vinse's pharmaceutical-sales territory and giving them more space for their son Carter, 2, and daughter Kate, now nine months old. They listed their home, which they bought in 2003 for $215,000, for $358,000, and they expect to spend as much as $500,000 for a four-bedroom house with a home office. click here for complete article Do you have questions on the selling of your home, condo or building lot? Visit 888SOLDin9 to talk with our Jacksonville FL 888soldin9 partner about your personal financial situation. Our Jacksonville FL partner, Jim Tallent buys, sells, renovates and rents homes and properties in Jacksonville FL, Duval County FL and Northeast Florida. |