Since there is no expiry date or “best before” restriction on real estate ownership so knowing when to sell can be a significant challenge for owners. A lucky few unexpectedly happen on their ideal next home and are, therefore, motivated to sell quickly and snap up this dream home. Many other homeowners debate for years about selling or staying because there are no clear cut influences to precipitate a decision to sell. Some compromise quality of life and struggle with inconveniences in a property which no longer meets their needs. If you’ve used one of these excuses, it’s time to sell.
- “I’m waiting for the value of my real estate to increase.” This sounds like a great strategy, but how will you know when it happens? If your value increases but the home you want to purchase does as well, you may not actually be making as much money. You need to work with a local real estate professional who can work with you on the best sell-buy strategy for you and your needs.
- “I’m waiting for my house to be painted/fixed up, so I make top dollar.” Once again, increasing market value is what professionals do for their listing clients. In fact, professionals go beyond value increase to make sure their clients net the best return on their investment in the property. Your ideas, unlike those of professionals, on what to renovate and how will not be based on current, first-hand experience with buyer reactions. Don’t spend a dime until you have professional feedback on what will make your real estate more valuable to qualified buyers.
- “I’m waiting for the last kid to go to college.” Real estate has many ups and downs that should bare more weight than the arbitrary date that this happens. You could lose enough to fund that child’s college education if the market turns. Only an estimate of your properties value can tell you the right time to sell for the most money. Helen can provide you with a free market analysis to keep you apprised of the market to find what’s best for your family.
- “I’m waiting to retire.” That may be a long wait since 20th Century, pension-rich retirement is history. Now, your real estate should be a financial partner in your future. Managing home equity is a better way to prepare yourself and your family.
- “I’m waiting until I can comfortably leave behind the memories we’ve made here.” Being sad to leave a home, cottage, or building that has brought you and your family pleasure is not a bad thing. Would you prefer to be desperate to get away from the real estate you own? Take videos or do what you can to preserve the memories, so they are not a barrier to choice.
It’s important to balance what your family wants and needs with the stress of selling your home. Ultimately isn’t getting the most money for your house what your family needs and wants? Find the best time to sell by watching the market and talking to a real estate expert. Get your free report by calling Helen today at 847.967.0022 or email [email protected].