Wondering if you want to sell your home comes across the minds of every single person who has ever owned a home. The endless possibilities presented by getting a boatload of cash for your house and starting over somewhere new are very enticing. However, deciding to sell your home is only the beginning of a long line of time-consuming tasks.
Before deciding to jump on board with the full-time commitment of selling your home, you should ask yourself a few questions to make sure that you’re ready.
Is it the Right Time to Sell?
You bought your house over ten years ago and the process was relatively simple. You found the house you wanted, made an offer and eventually moved in. Well, selling your home now might not be as easy in the market of right now as it was to buy back then. Is the market your house is in a buyer’s market or a seller’s market? Knowing this can make the difference and not only save you in real estate agent fees but a whole bunch of time won’t be wasted.
If other homes in the area aren’t selling well, then it might not be a good time to sell. However, if they are, how much are they going for? If they’re selling above the market average, chances are you’ll be able to get a similar home above market price. Alternatively, if houses in the area are going for under market value, you can expect that to happen as well.
Why Do You Want to Move?
You’ll need to be as honest with yourself as possible. Do you want to leave because you don’t like the neighborhood? Were there unforeseen issues with the property that make it unlivable? Perhaps your family is just expanding and you need something to accommodate the new people in your life. Whatever the reason, it’s important to understand what is making you leave, so you know what to look for from a new property.
What Should Potential Buyers Know About the House?
It’s important to note things that a potential buyer would want to know prior to buying the house. Use the honor system when considering these factors. Would you want to know if the area has a problem with noisy neighbors or vandalism? If there are some things that come with the house that could be perceived as nuisances, you must disclose them to the potential buyer.
Do You Know Where You’re Going After the Sale is Final?
This might seem obvious, but it is an important part of moving out of a home. What will your next step be? If you’re moving so that you can retire, maybe you’d like to buy a beachfront property or a cabin up in the foothills of your area. This can make a huge difference in how your homeowners insurance quotes compare to one another. A beachfront property is likely to be much more expensive than something more manageable in the suburbs, but it is entirely up to your discretion.
No matter if it’s your first house or your tenth, selling a home is a complex and unique experience that requires care, passion and time. In order to see the best results, don’t rush the process and be as prepared as possible.