April 4, 2017
According to Zillow, U.S. homeowners that bought a two-bedroom home in 2009 and wanted to upgrade to a three-bedroom home in 2016 could expect to spend an additional $447 per month on their mortgage. Move-up buyers in many large Midwest markets could also expect to stretch their dollars further; for example, in Chicago, Cincinnati, and St. Louis, buyers can expect to spend approximately $150 more on mortgage payments each month by upgrading from a two-bedroom home to a three-bedroom home. In hot coastal markets such as Los Angeles and San Francisco, buyers could spend more than $1,000 extra per month.
