Key Points to Ponder Before You Sell Your House

by Valerie Pineo 08/25/2019

Why are you selling?

It is your investment, and you can do whatever you want with your house, but it’s helpful to scrutinize your reasons for wanting to sell. You might feel that your new station in life warrants a bigger home in a Beverly Hills-type neighborhood. However, will you be able to keep up with the mortgage for such a house? Some sell because they need a fresh start after a break-up or have got a job in another state. 

If prevailing market conditions are unfavorable and you don’t have to sell immediately, wait another year or two.

Will I get the right price?

Ask yourself, if you were to sell today, would you at least break even on your investment? That is, will you be able to pay off the outstanding balance of your mortgage with the proceeds from the sale? If your answer is no, it might be best to wait until the prices climb a little.

To get an idea of what the current going price of your house is, try and find out the sale prices for similar properties in your neighborhood. However, first, contact your lender to get an accurate picture of your outstanding balance.

Is it the right time for you to sell?

The real estate market is a volatile one. The beginning of last year was a good time to put your home on the market as prices had risen, occasioned by high demand. During the second half of the year, however, there was a slow-down in that rise thanks to ballooning interest rates on mortgages. So should you sell this year? 

The rising interest rates will discourage folks from making new applications, but the fact remains, housing is in short supply across the country. So people are still in the market for homes now. Moreover, while interest rates are rising, they are still relatively low. You may as well take a chance on the present than speculate on the uncertain future.

What’s the condition of your house?

To fetch the best price in the market, you need to sell your house in tip-top condition. That means investing in extensive renovations depending on its current state. You might have to replace a raft of broken tiles, redo the flooring or begin weeding out the garden. 

 Ask for a statement of your house loan from your lender if you’re seriously contemplating flipping your house.

About the Author
Author

Valerie Pineo

For The Best Real Estate Results #PickPineo I deliver the premier Real Estate service you expect and deserve! As your trusted professional, my expertise, experience, strong work ethic and accessibility means all your Real Estate needs and goals will be handled with care and professionalism. You can expect personalized service that is tailored to your individual needs. Selecting me as your Realtor, assures you, I will be your point of contact from the beginning of the process through settlement and beyond. Your Realtor for life! I appreciate and look forward to the opportunity to work with you and for you. No matter where you are moving; Buying or Selling, I can assist you, your family and friends worldwide, we're in 98 countries. Before your next Real Estate move please contact me for a free consultation and up-to-date inside track on our local market. As a dedicated real estate agent, I am qualified to guide you in buying or selling a home. Enthusiasm, knowledge of the area and personal concern for the clients interests combine to make me an outstanding resource for your real estate transaction. I work extensively to help Buyers and Sellers meet their real estate goals. Buying or selling a home is one of the most important transactions in the lives of many people. Because of that, it is important that you work with someone you trust and feel is a market expert with integrity. I measure my success through the satisfaction of my clients. I know that your success is my success. I offer local expertise in a home market tailored to meet your needs. As a real estate professional, I know the neighborhoods, schools, market conditions, zoning regulations and local economy. I will keep you up-to-date with new listings and conditions as they impact the market. I will make the process as pleasurable and stress-free an experience for you as I can. I will provide sound and trustworthy advice to help you achieve your real estate goals. Let me guide you through the buying or selling of your home. I look forward to working with you.