Buying or selling a home is a decision that shouldn't be taken lightly. Whether you're simply looking for a change of scenery or considering a cross country move so that you can be closer to a significant other, you'll want to ask yourself the following questions before making the decision to move—whether it’s down the road or across state lines.
1. Why do I want to move? Maybe you’re bored with your lifestyle and want to try living in a new place or you just need a change of scenery. But before you do something drastic, make a list of the pros and cons associated with leaving the area where you currently reside. Deciding to sell on a whim could be a decision you end up paying for long into the future, so make sure you really think about what moving means and how it will affect your life going forward.
2. Do I have to move? Is your job relocating you? Have you met the man or woman of your dreams? Can you no longer afford to make your mortgage payments? While some of these reasons may be more practical than others, make sure you explore every possibility before putting your house on the market. If you’re considering moving for a new job, how certain are you that the position is going to be permanent? Is your reason for moving financially based? If so, have you looked into refinancing or borrowing from another source? Whatever the reason may be, make sure you explore all your options before making a decision.
3. Is now a good time to move? Before you make the decision to move, it’s important that you understand what the housing market is like in your area. Check to see what houses have been selling for and compare comps to find out what direction the market is moving. If time isn't an issue and you’re simply looking for a change of scenery, you can always wait out the market.
4. Should I rent? Perhaps you aren't 100 percent sure that leaving is what you really want to do. If this is the case, consider renting out your home for a year so you can continue to pay the mortgage and see where your life takes you over the next 12 months. You might decide that you miss the neighborhood and the closeness to the city or suburbs, and this scenario allows you to easily go back.
5. How should I sell my home? While some people try to sell a home on their own, studies show that selling with the help of a qualified real estate agent will get you a better price and a quicker deal. Interview a few local agents and ask around to see if your friends, family and neighbors have any recommendations.
For more information about selling your home, contact our office today!