Homeowners spend years in their home making memories, but there comes a time when they feel like they should sell. The side of real estate that is often forgotten about is selling your home. Many factors go into making this highly important decision. Most homeowners wonder if they are ready for this big step. If you are a homeowner that is on the fence about selling your home the following details will help you determine your answer.
Important Questions
- Are you prepared to let go of the emotional attachment to the house?
- Are you ready to make necessary improvements to your home?
- Are you prepared to welcome house hunters?
- Can you handle hearing potential buyers have negative comments about your house?
- Are you prepared to negotiate?
- Are you ready to move your family to a different house and new neighborhood?
If you have answered yes to any of the questions above, chances are you are willing to sell your home. Now that you honestly answered the questions above you should consider the information below before making your final decision.
Equity
Owing more on your home than it is worth is referred to as negative equity. If you are in this position it is not a good idea to sell your home. Homeowners that do sell their home when they have negative equity use a short sale, which negatively impacts your credit score. Generally, if you have negative equity on your home you don’t want to sell it at that time.
Homeowners have been feeling relief in the real estate market since home values have been on the rise. This has allowed most homeowners to build equity. If your home is currently worth more than you owe, it is wise to consider selling your home.
If you are having difficulty finding the worth of your home or making your decision you should consult with a professional. An experienced real estate agent will be able to view the market value, mortgage balance and home equity and provide you with a clear picture of your situation.
Once you receive approval to sell your home, it is time to make your decision. One of the most difficult things to let go of is emotional attachment. However, if you are willing to look forward to a fresh start in a new home you will be able to find the strength to sell your home. Take the first step to selling your home by contacting a real estate agent today!
