As a homeowner, It is not uncommon to question when and if you should sell your current house- especially if you’re not sure it’s your “forever home.” Deciding to sell your home is not always an easy journey and there are many factors to consider.
While you weigh your options, we put together some questions to help you decide which path is right for you.
Do I need to move right now?
Ultimately, the first piece of the puzzle is your situation. For example, are you considering adding children to your life and you realized you’d need more space? Or did your employer start offering the opportunity to work from home, and you need a place in your home to do your job productively?
Regardless of the reason, it’s important to weigh your priorities in your current stage of life. For example, if factors are pushing you to increase your space or downsize to something more accommodating to your lifestyle, selling your home might be the right choice.
Can I use this home as a rental property?
Remember, selling your current house isn’t the only solution if you plan to move. Depending on the location and the state of the existing home, many people choose to keep their house and rent it. Listing your home on rental and/or vacation websites can allow you to eventually see a return on your investment in the house and keep the property in your family.
What is the current market situation?
This is a question we often hear when people are selling and/or buying a home – what is the current situation with the market? Today, interest rates are starting to climb again. However, they are still historically low compared to years before the Covid-19 pandemic. Houses are currently in high demand. As a result, your home could potentially sell quickly and even receive competing offers depending on its condition.
It’s important to note that while we are currently in a “seller’s market,” it can be a Catch-22 situation if you plan to sell your current home and simultaneously purchase a new one.
Can I easily find a new home if I sell my current house?
There are always houses available to purchase – the tricky part is finding a home that suits your needs and price range. When supply is low, options can be limited, depending on how open-minded you are.
Whether you have questions about selling your house or are ready to commit to the process, I can help! Call me at 717-253-3259 or visit my website at www.karentavenner.com.