Questions to Ask Yourself When Deciding to Sell or Stay in Your Current House
Life has many different stages. We often find ourselves transitioning into stages that cause is to confront big decisions. One big decision is whether to sell your current home or stay. There could be many reasons that might cause you to consider this, whether it is relocating, downsizing, upgrading, financial changes, or simply just needing a change for one reason or another. While deciding whether to sell your home or stay IS a big decision, it doesn’t have to be super complicated. We have put together many questions that you can ask yourself to help you truly consider which is the right move for you. Take a look at these questions and we hope you find them helpful!
Money can be a huge factor in whether the home you are in now is right for you or another would be better. Depending on the market, selling could be the best financial move you could make, and other times a very bad decision. You know your current costs, but don’t forget that there are additional costs that come with any new home, so it is important to consider those when considering the pros and cons that would come with a potential change. Here are some questions to consider that are related to finances.
- Is it a buyer’s or seller’s market?
- How much if your property worth in the current market? (We, or another real estate agent, can help you determine this if needed. Call us!)
- How much would a property cost in the geographical area that you would really love?
- Can you sell your home and make a profit that could go towards a new home?
- How much will it cost to sell your home? (Again, an agent can help you determine many of these costs.)
- Can you afford updates and renovations that will make your home more market-ready?
- Do you have money for a decent downpayment?
- Will I be able to sell this home in the future?
WHERE YOU LIVE:
When you buy a home, you’re not simply buying the house. There is often land involved, a city, a neighborhood, neighbors and so many more factors that factor into the enjoyment of the location in which you live.
- Do you love your city?
- Is there a different city more desireable to you?
- Does your current home/property have irreplaceable features that you love?
- Are properties available in the area you love within your price range?
- What are the school districts like in your area?
- Do you love your neighborhood?
- Do you love your neighbors?
- Are there home/property features that you desperately want?
When you think about your current home or dream home, it is important to think about size. There are some things that can be adjusted and some that cannot be changed at all. Here are some questions to help you consider whether you need a different sized home or property.
- Do you need more or less space within your home?
- Can you current space be repurposed to make it more comfortable for your lifestyle?
- Is it possible to add-on square footage at your current home?
- Are you using all the space you currently have?
- Is your yard too big or not big enough?
- Can you afford a home with more space?
- Do you have the time and energy for upkeep of a larger home/property?
We hope these questions help you out with the big decision on whether to buy or sell your home. If we can assist you in any way, please give us a call today!