Move-up home

{{Short description|Real estate term}}

{{Notability|1=Neologisms|date=July 2021}}

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.{{cite web|url=https://www.washingtonpost.com/business/2019/06/18/six-tips-move-up-buyers/ |title=Six tips for move-up buyers |website=Washington Post |date=June 18, 2019 |access-date=June 25, 2021}}

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.{{cite web|url= https://www.cnbc.com/2012/08/01/where-are-the-moveup-home-buyers.html |title=Where Are the Move-Up Home Buyers? |website=CNBC |date=August 1, 2012 |access-date=June 25, 2021}}

Move-up home purchases increase when interest rates are low.{{cite web |url= https://www.nytimes.com/1997/01/28/business/severe-winter-hurts-sales-of-existing-homes.html |title=Severe Winter Hurts Sales of Existing Homes |website=NY Times |date=January 28, 1997 |access-date=June 25, 2021}}