Selling your home fast might be easier than you think, depending on the current market conditions.
1) Will the value for my house exceed what I owe?
You need to know how much your home is worth before even thinking about a sale price. This will give a great place to start when setting a sales price. You can easily check what other homes in your area are selling using our free ‘Home Price’ tool now! If the amount that your home is worth exceeds how much you owe, then it’s time to sell!
What is the property doing for you?
Your house should be doing one of these things:
- The home is your primary residence, somewhere that meets all of you and your family’s needs.
- It is a house you rent to high-quality tenants. It provides a consistent income with low overhead costs.
- You use the property for recreation. Maybe is a place for vacations or a weekend home.
If your home is vacant or costing you in repairs or tenant turnover, it might be time to consider selling it!
Is there another property that would better meet your needs financially?
Investing in different assets can be a great way to enhance your portfolio and protect against inflation. As you can see, things aren’t looking too good for the American dollar. And as we all know, money is power!
A lot of Americans are trapped in mortgages that they cannot afford or refuse to pay because the cost of living has gotten too high. These people will eventually lose their homes once the banks foreclose on them (a process that is costly and lengthy). Why not invest in foreign currencies before it’s too late? Or even real estate abroad? The tides are changing; right now, Europe is a strong bet following Brexit, Canada is becoming more profitable due to their new incoming president and Mexico remains solid like always.
Do you have “too much house?”
High-maintenance properties can be very costly. It can take a lot out of you to maintain a home that is too large for your needs! On the other hand, if you are single and renting, you can take advantage of investment property! These are great properties because they are meant to make money rather than be lived in. They do need some attention but not as much as 5 bedroom homes with yards. Check out how your family’s needs might change over time before making a long-term commitment to any house or apartment.
Or do you feel cramped?
So where should you start? As with any real estate transaction, it is important to get pre-qualified or pre-approved for that loan. Get in touch with your local lender and they will guide you through the process of determining how much mortgage rate and how big of a mortgage payment can fit into your monthly budget.
Is this really the house you want to be in forever?
Your home is where you come to rest at the end of the day, the place that should bring you peace. It’s hard to relax in a space that no longer fits what you need or want because it doesn’t represent who you are anymore. Maybe it reminds you too much of your single days or socialites without kids? It takes guts to leave behind the familiar for something new, but don’t let trepidation get in the way of progress. Read on for some major motivation…
Does the house need repairs?
A general rule of thumb is that a direct buyer will buy a house for about 80 percent of its market value, assuming the repairs are completed. With your consent, we can work with contractors in Colorado Springs to get an idea of how much the needed repairs will cost and provide you with an offer once we’ve had time to do some research. You don’t have to worry about making costly mistakes because we take care of everything from start to finish so you know you’re getting a fair price for your Colorado Springs house.
Do you have equity in the home?
A general rule of thumb is that a direct buyer will buy a house for about 80 percent of its market value, assuming the repairs are completed. With your consent, we can work with contractors in Colorado Springs to get an idea of how much the needed repairs will cost and provide you with an offer once we’ve had time to do some research. You don’t have to worry about making costly mistakes because we take care of everything from start to finish so you know you’re getting a fair price for your Colorado Springs house.
What is owning your Colorado Springs house costing you?
Paying these monthly recurring holding costs can add up to a substantial monthly sum. However, the rate of increase for these costs is generally slower than a mortgage payment based on today’s low-interest rates.
Understand Mortgage Insurance Costs-
The most expensive part of homeownership is often overlooked and that would be mortgage insurance. The good news is that you don’t have to pay this fee forever if you can afford to make additional payments towards your principal balance (PH), which will lower the total amount owed.
If you have been thinking about selling, it likely means that it is the right time! There isn’t one answer that is right for everyone! Consider your options and make the decision that works best for you! Our team is ready to help answer any questions you may have!