There are many reasons why some may choose to move home. That said, this article will highlight some of the most popular scenarios that we have seen as a mortgage broker in Sheffield:
Some borrowers look at wanting to move home simply because they wish to live somewhere bigger. It makes sense, considering that some first time buyers in Sheffield look for a smaller property to start small and then move when their circumstances change down the line, i.e. ready to settle down and start a family.
Another option to making more living space is to raise capital through a remortgage to build an extension/conversion. This option is popular amongst growing families.
Others choose to remortgage for home improvements to raise their property value for when they sell it in the future.
We also hear that some wanted a change of scenery and looking to move to a different area. These will likely be first time buyers again as they usually have a restricted budget and settle for an affordable property for a reasonable price. The chances are that these borrowers now have a higher income coming in that they can afford to live in a more affluent area.
Not everyone considers schools as they may have not even thought about starting a family yet. Those who have started a family or are planning to will always factor in accessible education within the area when they are looking at where to move.
Some look at moving closer to their friends and family. If you have children at a young age and both parents work full-time then it is more than likely that you will ask their family to help them out with childcare as private nurseries can be costly.
Those looking to get on the property ladder will always consider buying over renting. That said, when it comes down to costs, no matter if you are renting or buying, the monthly payments are roughly the same, depending on the area, but you need to save up for a deposit.
As we mentioned before, if you prefer more living space but do not want the hassle of moving, then book your free mortgage appointment today to speak to one of our remortgage advisors in Sheffield, who will help you find a great deal to raise money for home improvements.
Why hesitate? Book your free mortgage appointment now to speak to a Mortgage Advisor in Sheffield. Our mortgage advisors can calculate your maximum borrowing capacity and give you a quote on your monthly payments.
Even if you are looking at remortgaging, you can get in touch today, and we can pass you on to our expert remortgage Advisor in Sheffield, and they will be able to answer all of your mortgage enquiries.