To Trade Up or Not to Trade Up?!My wife and I purchased a newly constructed home in 2006 for $320K which we still enjoy, but is starting to get cramped as we increase the size of our family. We're trying to decide whether to expand our current home by adding a few bedrooms, or sell and trade-up.We just recently had our home appraised at $305K based on recent sales, which is still more than I owe (but not by much). According to Zillow, property values continue to decrease in my area, so I can't imagine waiting will do us any good. Some of the areas we're looking at for potential trade-up homes are actually increasing in value.So the question is...does it make more sense to sell our house before it continues to devaluate and purchase a larger ($600-$800K) home in an appreciating area, or should we sit tight and just expand? Making very little money in a sale of our current home wouldn't help our down payment situation, but I still could likely come up with 20% without it. Thoughts?!December 27 2011 - Town of Colchester11YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.