Americans move an average of 11.7 times during their lifetimes, according to the U.S. Census Bureau. There are many reasons why people sell their homes, ranging from personal relationships to physical surroundings, a transfer, a death, or a divorce. A home that no longer is a good fit for one family can be a dream home for another. Here are some common reasons why you may want to consider selling your home…
Is It a Seller’s Market?
A sellers marketing can mean that you may be able to make a nice profit on your property but it’s not always something you need to wait for if your ready to move. Check online real estate listings in your neighborhood. If you are living in a hot area it may make you want to consider selling your home. The sign of hot home sales is the relationship between asking prices and sale prices. If buyers are making offers above the asking prices it may be a good time to pad your bank account and time to move on.
Have A Plan Before You Buy in a Sellers Market
Selling first and then buying in a seller’s market can be problematic. Experts advise taking advantage of your strong position as a seller as you work out the timing of your purchase. Homeowners in a seller’s market face a conundrum. On one hand, their home is worth more than it has ever been. But on the other hand, if they decide to sell it and buy a new one, you are going to face stiff competition. You can expect high prices in a competitive housing market where homes are selling in record time.
Selling Your Home to Relieve Financial Stress
If you’re feeling stressed about money, you aren’t the only one. In a Credit Wise report, 74% of Americans rank finances as their number one stressor. For some, selling their largest asset – their home – can help turn those finances around. If your property taxes or mortgage payments have become unmanageable, the best recourse may be to sell and find other housing that is more affordable. Selling your home in a seller’s market is better than struggling with a big mortgage loan and possibly risking foreclosure. Just make sure you can find another home to rent or buy in your price range. Your monthly housing cost shouldn’t exceed 28% of your gross monthly income.
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About The Real Estate Company
Residential and Multi-family Realty Services for Lexington, Richmond, and Surrounding Areas. We close over 40 million in sales each year. Our love for Central Kentucky and our clients is the key to our success. We provide careful guidance, persistence, and savvy marketing to deliver results for our clients time after time.
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