Ready to Sell Your Home? Consider These Three Things First!
For many homeowners, gone are the days of settling into one home for the long haul. Instead, today’s homeowners upsize, downsize and relocate to adapt to life’s changing needs. But, making the decision to uproot and sell one home in order to find and move into a new home is never easy. Unfortunately, there may be no tell-tale signs that it is time to sell. Instead, deciding to sell a home is a rather personal choice. But, there are a few things homeowners should consider when deciding if they are ready to sell: Equity In many areas, home values continue to rise, which means that homeowners everywhere continue to build equity in their homes. Some homeowners choose to borrow against that equity to remodel or renovate their homes. Others choose to cash in on their home equity by selling and using the profits to buy a new home. Many experts suggest homeowners who are thinking about selling should make sure that they have at least enough equity in their current home to cover a down payment on their next home. Homeowners can determine their home equity by subtracting the amount they owe on their mortgage from their home’s current worth. A professional real estate agent is able to complete a free comparative market analysis of similar homes that have recently sold in order to give homeowners an accurate assessment of their home’s worth. Expectations In addition to home equity, homeowners, who are considering listing their homes for sale, should consider their short-and-long-term expectations. If their family is growing, it may be time to upsize. If they recently have experienced an empty nest, it may be time to downsize. If they have always wanted a home office, game room or play room and have already tried remodeling, renovating or adding on to their current home, selling may be the next step. Some homes may easily adapt to a homeowner’s changing lifestyle. However, simply put, some may not. When you’re thinking about selling, you’ve got to consider your short-and-long-term expectations. Emotion Without a doubt, there is an emotional component that goes along with selling your home. Whether you’re talking about your first home, the home where you raised your family or perhaps a home you custom-built, there are countless reasons that homeowners become attached to their properties. Those emotions are certain to play a role in your decision; so, you’ve got to consider them when you think about selling your home. Think of it this way; are you ready to receive buyer feedback about everything from your home’s layout to your color choices? Will you be able to handle an offer that you find to be ridiculously low? Finally, can you imagine someone else calling your home “home?” Ask yourself all of these questions before you decide to sell. The spring home-selling season will be here before you know it. If you think you may be ready to sell your home, enlist the help of an experienced Berkshire Hathaway HomeServices The Preferred Realty real estate agent today.
