Should You Sell Your Home?
Posted on: 28 February 2019
Selling a house is a decision that should never be made lightly. The process of selling a house can be long and stressful. It may demand a lot more of your time than you realize, and there's always a chance that you may not find buyers willing to match your expectation in terms of prices.
However, this doesn't mean that you should stay in place just to avoid the hassle of finding a buyer. If things work out, the rewards would make it all worthwhile.
What Reasons Do You Have for Wanting to Sell?
When you're deciding to sell a home, it's important to examine the reasons why you feel selling is a good option. People will have different reasons for wanting to sell, including:
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Real estate values are high and they wish to cash in
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The current house no longer meets their needs in terms of size, location, amenities, etc.
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The upkeep on the house is too expensive
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A new job is taking them out of town or out of state
There are plenty of good reasons to sell your house; however, it's important to carefully consider these reasons since you may be overlooking a better option. For example, if you're moving out of town for a short while, renting the house might be a better choice. Property values may be high, but if the rents have risen as well, then selling might be short-sighted.
Are You Financially Ready to Sell?
Selling a house may put some money in your pocket, but until the sale is actually concluded, you will need to have your own cash in your pocket. You may need money for upgrades or repairs, and you may also need the cash to finance your move from the house. The amount of money needed will be substantial, so it's important to be prepared.
This is also a good time to consider what kind of equity you have in the house. If you have negative equity when you sell your home, you won't be getting as good a deal on it.
Are You Emotionally Ready?
Dealing with home buyers can be tough. You may have your house on the market for weeks or months with no sign of a deal. You may also have to put up with buyers constantly telling you everything that's wrong with your house. The house will also need to be staged to have it ready for viewing. This can take a toll on you, but a good real estate agent can help take the burden off by helping you conduct a quick and successful sale.
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