Should I Sell or Not?

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Making the Decision to Sell Your HomeBefore you decide to list your home for sale, you should carefully consider why you want to sell your home in the first place and then evaluate the current condition of the housing market in your neighborhood, or wherever you would consider moving. Taking these steps will help ensure that you maximize the sale price of your home, whether you sell it today, next month or next year.

Should I Sell My Home?

It’s difficult, if not impossible, to predict which way the housing market and housing prices will head. Instead, look at factors you can control when deciding whether to sell your home now or at some point in the future.

Reasons to Consider Selling Your Home:

•  You have to relocate to a different part of the country.
•  You can no longer afford to pay all of the expenses (including the mortgage, taxes, insurance and • maintenance) associated with your current house.
•  You have built a large equity position in your home.
•  Houses in your neighborhood are selling quickly and are selling at or close to the asking price.
•  Few homes in your neighborhood are on the market.

Reasons to Consider Remaining in Your Home:

•  Homes in your neighborhood are taking a long time to sell, or are selling for significantly less than the asking price.
•  Many homes in your neighborhood are on the market.
•  You don’t have much equity in your home, and will lose money if you sell, just break even or make only a small profit.
•  You don’t need to sell, but would simply like to live in a different neighborhood or have a home with different amenities.

Also how flexible are you in pricing your home? If you price your home low enough, you will find a buyer in any market. If you’re unwilling to discount the price of your home, it may remain on the market for a longer period of time, particularly if the real estate market in your area is depressed.

 

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