Selling Your Home
The housing market is like a living being. It is always changing and it can be hard to know if you are making the best decision to buy or sell a house at any given time. There is no “one size fits all” answer to figuring out if it is the right time. However, there are a few things that you need to consider when you are deciding if it’s the right time for you to sell your house.
What Should You Know Before Deciding To Sell Your House?
Think of Your Personal Goals
The first thing that you need to consider are your own priorities. Think about why you are wanting to sell your house. This is truly going to be the driving factor in whether or not now is the right time for you. Is your bank account in need of a financial infusion? Is the rental property too much for you to maintain? Has your family outgrown your current house? Did you inherit a home you don’t want to hang on to? Over the years, we have heard so many different reasons why people are choosing to sell their house. Each one is valid and crucial in determining the direction your upcoming real estate transaction will take.
Does a Seller’s Market Matter?
Many people believe that selling your house in a “sellers market” is the best time to sell a home no matter what. However, it may not be in your case. In a seller’s market, buyers often need a larger down payment than anticipated once the appraisal is completed. Depending on the buyer, this could end up resulting in a canceled deal before you really get started. This means you will potentially have to start the process all over again. If your goal is to sell your home fast, you will need to be careful about the offers you choose so you don’t end up in a situation you don’t really want to be in.
Another idea that people often get caught up in is the time of year to sell a house. Typically speaking, spring and summer are the most common times for people to make real estate transactions. Families tend to move around the end of the school year so as not to disrupt their children’s school attendance. The market often gets more saturated with buyers around that time. Some sellers choose to hold onto their house longer than they maybe should have in hopes that the spring and summer will help in the sale of their house. Again, if you are not in a situation where you should be holding onto that home for long, waiting for “the perfect time” could hurt your personal or financial situation.
There Are Costs To Selling Your Home To Consider As Well
This may seem like a weird one, but consider the cost of building goods, such as lumber, when deciding if now is a good time to sell your house. If you choose to sell your home by putting it on the market, you may have to do some upgrades or fixes before you can sell the house. Real estate agents often recommends it for a number of reasons. You may need them in order to get the price you want or the timing you need. It could also be because you can’t sell the home without them because you just can’t compete with other more updated homes.
The market ebbs and flows with goods of all kinds, including building supplies. If you need to make upgrades to your house, the cost of this could add up, especially if costs are at a high point. If you are selling your property for financial reasons, the current prices of building supplies may get in the way of you selling your house the traditional way.
Hot Topic: Interest Rates
Interest rates right now are a huge factor for so many people in whether or not they want to sell their house. The reason for this is that selling a house normally means they will be buying one as well. Some people need the biggest bang for their buck so they can afford the next home. If that’s you, you will definitely need to watch the market to find the ideal time to sell your home. A sudden drop in interest rates could push you to sell your house quickly to take advantage of the rates. By contrast, the recent upward tick of interest rates could push you more toward holding on to your house, if you can afford it, until there is a shift in the market that makes it more feasible for you to make your next real estate move.
All of these things are going to impact how your next real estate decision is going to go. A theme through all of these considerations is your current financial situation and your financial future. A house is one of the biggest assets a person will purchase in their lifetime. However, it is also one of the biggest expenses we take on when we do purchase. Then, sometimes we inherit properties that end up stretching our budget further than we can manage. Other things can affect our financial situations that make it near impossible to continue to stay in that situation. Selling real estate that you own, quickly and without additional investment, can be the thing that saves your financial future.
What Can You Do?
Cash transactions can help you and be an alternative to the traditional way of putting it up on the market. When you choose to work with a cash buyer, you are able to get the transaction over faster. This way you can have the money from your sale faster than selling it the way people are familiar with. It can also give you the freedom to forgo potentially costly renovations in order to get your home to sell. A cash buyer can come in and purchase your house at a fair price, with a fast closing, and without the need for repairs, appraisals, or contingencies.
CLICK HERE to check out a short list of questions to answer before making the decision to sell your house.
Eric with ASDM Homes has specialized in cash transactions in San Joaquin and Stanislaus for almost 20 years. He is here to help you make your next real estate move as quickly as possible! Contact us today to start the process and allow Eric to give you a cash offer on your house.
