Buying or selling your home is probably among the most important life decisions you will ever make. That’s why it should be made with the proper circumspection and with guidance from reliable experts.
Reasons for wanting to sell
Apart from needing to permanently move to a different residence for career, education, or health reasons, people who plan to sell their house are usually either moving up or moving down. You may believe you need or even deserve a bigger place or a house in a better neighborhood because your family is growing or because you are becoming more financially successful. On the other end, you might be trying to down-scale your lifestyle when things aren’t going so well financially or because you want to simplify your life.
Other people just find themselves in circumstances in which running a large home doesn’t work anymore. The kids might have all moved out, or the house might be getting too difficult to maintain for retirees.
There are, of course, homeowners who are just tired of putting out the cash for the seemingly endless repairs and maintenance of an aging house. Selling their home—even for a song—would help them cut their losses and start afresh. Sadly, there are home sellers who view the sale as a way of dealing with serious financial difficulties, but find themselves having to rent after letting go of their homes.
Making a home sale while in the process of filing for bankruptcy can be complicated and fraught with legal hitches. It is best to get advice from a qualified broker before considering going this route.
Experts warn against selling your house if you already owe more on your home than it is worth or have negative equity. This short sale will not result in a hoped-for bail out when the chips are down.
Green flags for house sale
Selling your house under the right circumstances could place you in a very comfortable financial situation. It would be best to evaluate your present condition to determine if you actually ought to push through with a house sale.
Selling a house and getting a new one always entails some major expense. Be sure you have enough extra cash to invest in some minor fix-ups like a coat of paint, or do a few long-overdue repairs. All these, to increase your home’s potential sale value.
You would also need to set aside some money to pack up and move whenever that happens. If you determine that your financial situation is healthy enough to endure all that, then go ahead and put your house up for sale.
Beyond economic concerns, make sure to address the family’s emotional and psychological preparedness. Apart from difficulties that might arise from sentimental attachment to your longtime home, there is the uncomfortable process of showing your home. This entails having to let strangers into your home for viewings, haggling over prices, and even having to bear with the criticism from potential buyers about your beloved home.
If you are psyched-up enough to deal with all of that, then waste no time inreaching out to me, Anne Dresser Kocur, for your real estate needs. As the #1 home seller in the Denver, Colorado area, I will make it a point to deliver the best real estate experience for you and your family. Call me at 303.229.6464 or email adresser(at)livsir(dotted)com. I’ll be glad to assist you!