Deciding to sell and move to a new home is not always straightforward and requires careful thought.
You need to have the financial resources behind you, whether you are upsizing or downsizing.
You'll need to lay your hands on funds to pay for some of the essentials that come with purchasing your next home.
For example, you'll need to pay for various property inspections – building, pest and electrical – when considering a purchase. And then there's the question of earnest money and a deposit if you're keen to proceed to purchase but have not yet sold your own home.
As an experienced agent, I'm keen to talk through any issue bothering you before you enter the market. Most barriers are surmountable.
Here are some challenges folks worry about, and what you can do.
It's a buyer's market: Sellers will often assume they're living in a buyer's market unless it's obvious the local area is booming. Talk to a trusted real estate agent about property trends in your area. You may be pleasantly surprised. And I'll be happy to advise you.
Unfinished projects: This is probably the biggest excuse for not moving forward and placing your home on the market. A property with unfinished work is a tough sell, and you won't maximize your home's value. If you don't have time or the inclination to get these tasks finished, hire a contractor and we can steam ahead.
No time: Transacting in the property market takes time and diverts your attention from your work and family. It's an agent's job to make the process as easy as possible for you. And consider this: living in a home you love is essential to enjoying life. It's likely to be your biggest investment, too. So, your focus will be time well spent.
Walkthrough stress: I get it – ensuring your home is pristine every time a buyer wants a walkthrough can be stressful, especially if you have a young family. We can minimize the inconvenience with 3D tours. However, at some stage you will have to open the door. We can work together to qualify the serious candidates to reduce the hassle-factor.
Relocation costs: Certain cities are performing better than others in terms of value growth. For example, New Orleans is sliding back (-8.1%) while Hartford, Connecticut, and cities such as Indianapolis and Jacksonville are red-hot right now. If you're scouring a hot market, patience is key. A strong savings discipline is critical. Use an affordability calculator on an aggregator site such as Zillow to determine the size of your challenge.
You're underwater: In very rare cases, owners owe more on their property than it's worth – this is known as “being underwater” or “holding negative equity”. It can happen in areas now proven to be in a flood or fire zone due to changes in climatic conditions. There are two paths here. You could ask your lender for permission to sell it for less than your debt. This is known as a “short sale”. Alternatively, sit tight and build equity in the property to get back in the black.
Whatever your concern, please contact me and we can discuss the challenge.
If you’re considering selling, upsizing, or downsizing, let’s have a conversation about your options. We’re here to provide expert guidance tailored to your situation and help you move forward with confidence.
Call or text us at (619) 495-1339 to schedule a consultation.
