Own a home and debate when and if to sell it? It makes sense and it’s always a smart move to go over your options, especially with major finances like investments, automobile and property ownership among others. Owning a home is a great investment, however, if you are not aware of the annual costs that go with owning a property, you could be in for an unpleasant surprise.
Taxes, insurance, upkeep and more are all things that add to your annual homeowners bill, and that does not even cover the upgrades you want to make. Want to add a pool? That conversation begins at $50,000. Want to paint your home and update the yard? You either need to invest in DIY tips or be prepared to pay a hefty bill. For many, selling a home isn’t about cashing in, it’s about eliminating some major expenses throughout the year.
Current Real Estate Market
The current market is in a flux. Right now, home prices are remaining strong but so are interest rates. Buyers are a little hesitant to take the plunge but the qualified ones know they need to move. Investors are a little different. While they are looking for the best possible deal, they know that they also need to have inventory and without it they cannot have a business.
Real estate investors will buy properties that they do not expect to see a major profit from because they can cover the early costs by renting the property out until the value is enough where they will see a strong profit.
Why Sell Now
If you are tired of covering the costs and responsibilities that come with owning a home, now is the time to sell. Why? Because it may take months to find the best deal and the right buyer. It’s difficult to imagine it may take time to sell a home when just a few years ago homes were being sold the same week they went on the market. That does not happen as often these days and it’s a reason why listing now is smart.
What Does Your Realtor Recommend?
Not sure what your best option is? Talk to your realtor. They can review your home, your finances and the local markets, giving you the information and guidance you need to make the best possible decision for you and your family. That expert guidance can be a game changer, especially if the time for you to strike is now.
