Maybe you’ve been thinking about selling your house lately. You are now wondering if it’s even the right time. We have put together some questions that you can ask yourself to help you determine if it’s even the right time to sell your home!
What is your property doing for you?
Your house should at the very least be doing one of the following things:
- Your house is your primary residence, somewhere that meets all of yours and your immediate family’s needs.
- The house is a house you rent to GREAT tenants. It also provides a consistent monthly income with very low overhead cost.
- You and your family use the house for recreational needs. Maybe the home is a place for your vacations or even a weekend home.
If the house is vacant or is simply costing you in repairs all the time or you are having a high tenant turnover, it might be the perfect time to consider selling it!
Is there another house that would better meet your immediate needs financially?
In the business of investing, they call this “Missed Opportunity Cost.” What house are you potentially missing out on because all of your money is tied up in the one you have now? Start searching and take a look at what else is out there. Is there a better home that you could be investing your money in?
Do you have “A House That Is Way Too Big For You?”
When people buy their houses they buy for what they need at that particular moment in their lives. If you had a house full of kids or family members, you might have required a 5 or 6 bedroom house. However, now, you might not even need so much house.
On the flip side of the above, people often grow out of the space that their home provides. As your family grows and you acquire more stuff, you will often require lots more space. Try to imagine what having a little extra room could mean for you and your family!
Is this still the house that you want to be in for the rest of your life?
There’s no rule in life that requires you need to keep staying in the same house forever. The beautiful thing about life is that you can move at any time you want to. Think about the future you want, a few years down the road. Can you picture yourself in the same ole house, or do you see yourself somewhere bigger? Smaller? Nicer?
Does your house need a whole lot of costly repairs?
Making repairs on a home you don’t really want any more can not only be expensive, but very stressful and burdensome as well. You can choose to work with a reputable direct buyer, who will buy your house as-is. One who will take care of everything needed, including all the home repairs necessary, plus pay all closing cost.
Maybe you have some equity in your house?
Are able to sell your home, pay off your existing mortgage, and have some left over to put down on the house you have always wanted, then, selling your current house might be just right for you! If you are able to get, at least, or more than 20% for a good down for your new house, even better!
If you have been, or are currently, thinking about selling your house, it likely means that it could be the right time! There is not only one magic answer that is right for every homeowner! Consider your personal options and make the best decision that works for you and your family! Our team is ready to help you answer all questions you might have!