Five Things To Consider Before You Sell Your Home

Five Things To Consider Before You Sell Your Home

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Sell Your HomeIt’s hard to say “no” when real estate prices are climbing in your area, but is it time for you to sell your home?  If you’ve been going back and forth on reaching a decision, now may be the time to sell your home.  But before you list, here are five things to think about.

What’s Your Equity

When the housing bubble burst a while back, a large number of homeowners sat back, powerless, as the equity in their houses dropped.  When the dust had settled, some homeowners even owed more than what their home’s value was.  

No one wants to sell their home only to write a big check to the bank.  If you have a small amount of equity you don’t want to see it eaten up by seller’s fees.

If negative equity has been holding you back from selling, you might be ready to sell your home now.  The market has been trending up so now could be the time you have been waiting for.  This means that selling now could have you walking away with a nice amount of equity.

A Growing Family

Families change over the years and you could have outgrown your current home.  If you’ve had more children or a family change like elderly parents moving in with you, your current house may just be too small.  

When you find yourself in a position where your current house does not fit the needs of the immediate future, it’s time to sell your home.  Now that sale prices are solid, it’s a good time to make the move while interest rates stay low.

Too Much Space

Maybe you are having the opposite problem.  Maybe your children are growing and moving out of the house.  Welcome to the empty nester cub!  

Less cleaning and less maintenance can be very appealing.  Downsizing has many perks and finding a space that fits your new lifestyle can be a great change.  Selling now and reducing home operating costs could be the right move for you.

Take Advantage of Low Interest Rates

If you’re wondering where interest rates are headed in the near future the answer is up.  So, that means if you are looking to sell your home at the best time to get a good rate on your mortgage, the time is most likely  now.  

Historic low rates are happening now, so if you want to lock in to a lower mortgage payment sell now and buy your next home.

Sell on Your Terms

If there is no big life change like divorce, a baby on the way, a job change, health issues, a new marriage or other event, take your time and don’t rush things.  It all comes down to doing what’s best for you at the right time for you.  

If you need to sell your home right now, don’t chase the market.  If you’re selling high you most likely will be buying high.  And if you’re selling low chances are you’ll be buying low.  Either way it’s pretty much a wash.  

Look are the current market and price to sell at a fair market price.  And then moving forward, be sure to buy a house you can afford now and in the future.

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