Moving into a bigger, nicer home is exciting. Before you start touring, it pays to understand how upsizing works, what it really costs and how to time selling your current home with buying the next one. Here's my guide for Scottsdale and Phoenix Metro homeowners.
Quick Answer
To upsize smoothly, confirm you truly need more space, list must-have features and neighborhoods, keep housing costs within the 28/36 rule, and plan the timing of your sale and purchase with your agent. In most cases selling first, or using a contingent or rent-back plan, lowers your risk.
Do You Need More Space, or Want It?
Both are fine reasons, but be honest about which one it is. Sometimes a home feels small because of layout or a spare room full of boxes. Other times you truly need more room, like a growing family. A bigger home also means higher taxes, utilities, upkeep and often a bigger mortgage payment.
Know What You're Looking For
Sit down with everyone moving with you and list must-haves: bedrooms, bathrooms, square footage, garage, yard or pool. Then list the neighborhoods that fit your commute, schools and lifestyle. Think a few years ahead so the home still fits as your needs change.
Work With an Experienced Agent
Upsizing means coordinating a sale and a purchase at the same time. Good timing keeps costs down and stress low. I help clients line up both sides, and when needed, arrange a rent-back or temporary housing so there's always a place to live.
How Much Home Can You Afford?
Don't let the maximum loan amount set your budget. A common guideline is the 28/36 rule: spend no more than 28% of gross monthly income on housing and 36% on all debt. On a $10,000 monthly income, that's about $2,800 for housing and $3,600 for total debt. Staying within it protects your savings and lifestyle.
Should You Sell First or Buy First?
Selling first usually wins. You know your exact proceeds, can make a bigger down payment and avoid carrying two mortgages. If you must buy first, get a conservative market analysis of your current home, check average days on market in your area and negotiate a longer closing.
Get Your Current Home Ready to Sell
Declutter, deep clean, finish small repairs and consider a pre-listing inspection so there are no surprises. Ask about staging. A well-prepared home sells faster and for more.
Plan for the Market You're In
Seller's market
Your home sells quickly, but buying your next one is more competitive. You may need a stronger offer with fewer contingencies.
Contingent offers
An offer contingent on selling your home protects you, but sellers favor offers where your buyer is already in escrow.
Closing both sides
A simultaneous close is possible when dates line up and both deals use the same escrow company.
Temporary housing
If you sell first, plan where you'll live and store your things: a short-term rental, family, a rent-back from your buyer or moving-company storage.
Frequently Asked Questions
Is it better to sell my house before buying a bigger one?
Usually yes. Selling first gives you your exact proceeds for the down payment and avoids paying two mortgages at once.
What is the 28/36 rule?
It's a lender guideline: keep housing costs under 28% of gross monthly income and total debt payments under 36%.
What is a rent-back?
A rent-back lets you stay in the home you sold for a short time after closing, paying rent to the buyer, while you move into your next home.
Your Next Step
Thinking about upsizing? Start with what your current home is worth. Get your free home valuation or talk with Raquel.
About the Author
Raquel Quinet is the founder of The Results Group and Everything AZ Living, a Scottsdale REALTOR® in real estate since 1999 with more than 1,000 transactions and over $1 billion closed. She specializes in North Scottsdale and North Phoenix (85254, 85260, 85255 and 85050).
Call (623) 738-6883, email raquel@azresultsgroup.com, meet Raquel or connect on Facebook.
#Upsizing #MoveUp #HomeSellingTips #HomeBuyingTips #ScottsdaleRealEstate #ArizonaRealEstate #EverythingAZLiving
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