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A move-up home is a real estate term used to describe a larger and/or more expensive home that a person moves into from a smaller home.
It is implied that as repeat buyers, the customer is more familiar with the real estate process than a first time buyer.
In 2012, CNBC highlighted the challenges facing move-up home buyers when they owed more on their current homes than they were worth.
Move-up home purchases increase when interest rates are low.
See also
References
- ^ "Six tips for move-up buyers". Washington Post. June 18, 2019. Retrieved June 25, 2021.
- "Where Are the Move-Up Home Buyers?". CNBC. August 1, 2012. Retrieved June 25, 2021.
- "Severe Winter Hurts Sales of Existing Homes". NY Times. January 28, 1997. Retrieved June 25, 2021.
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