If you are a home owner you’ve probably thought to yourself at some point, “Should I sell my house?” A We buy houses for cash is the most valued asset that the average person can own and deciding whether or not to sell your house will be one of the biggest decisions you can make. While there are going to be many determining factors in your final decision, asking yourself a few core questions will start you on the right path to a decision you can rest assured is the right one.
First you’ll want to ask yourself “Am I in an Up Market or Down Market?”
It is always a good idea to sell in an up market as there could be a lot of money to be had by you, the home seller. Home sellers in an up market stand to make a small fortune depending on the amount of equity (the difference between what a house is worth and how much the owner owes on the house) in their house. Sellers may get top dollar for even the shabbiest homes in an up market. A few tell tale sign of an Up Market in your area are homes selling quickly for way over list price, an increase in home buyers shopping in your area, and a steady increase in the sold price of similar homes are the more obvious ones. An easy way to gage this is to talk to a real estate agent who is familiar with your area. If you tell them you might be interested in selling home they will provide with more than enough useful information.
A Down Market can be a definite detour to selling. When home values decline and houses are taking long to sell, turning a large enough profit to make selling your house worthwhile can be difficult or even impossible. Many home owners find themselves owing more than their house is worth in a down market. Ironically this situation, combined with other factors can create an ideal environment for selling your house which brings us to question 2.
“What is my current situation?”
Most would call the current times a definite down market for many good reasons. The state of the economy has put many home owners in an undesirable position financially. Job loss or reduced wages are only a few of the many things that can put a home owner in a need-to-sell situation. When you fail to pay your mortgage you risk losing your home to foreclosure not to mention doing severe damage to your credit. A foreclosure on your credit can prevent you from ever owning a house again. If you think you are close to missing a mortgage payment or have missed a payment it is still possible to sell your house rather than loose your home. You will want to contact an experienced agent to help properly and successfully do this. Other situations that may make for ideal selling conditions to alleviate the burden of a mortgage payment are divorce, death of a spouse where half or part of the household income is eliminated, and if you become ill or disabled. If none of these describe your current situation then you may want to sell to help achieve a goal.
“What is my goal?”
Many goals take money to reach and your home can be a source of cash to do it with. You could accomplish this in a refinance but in some cases down sizing (buying a smaller or lower priced house) may be a better solution in the long run. You’ll have the cash after you sell and a lower monthly payment which may pay dividends in savings versus a cash out refinance which will increases the amount you owe and may increase your monthly payment. Common goals people have sold their house for are overseas vacations, continuing education without having to pay back a student loan, or paying off debt.
If you need more help [http://shouldisellmyhouse.net] in answering the “When should I sell my house?” question you can go to ShouldISellMyHouse.net [http://shouldisellmyhouse.net]. They ask detailed questions that you can answer and use as a personal guide. On top of that they can help you personally by calling the toll free hotline (800) 871-9002. Be sure to use access code 53960.
