Maybe you’ve been sitting on the fence about selling your house. Maybe you are wondering if now is the right time. Here, we have put together some questions to ask yourself to help determine if it is the right time to sell your Los Angeles home!
#1. What is your house doing for you?
Your house should be doing one of these three things:
- The home is your primary residence, a place that meets all of your needs for you as well as your family.
- It is a house that you rent to quality tenants, which in turn, provides a consistent income with low overhead costs.
- You use the house for relaxation and recreation. Maybe it’s the place you enjoy spending time for vacations or for weekends.
If your house is vacant or costing you a lot of money in repairs or if it has high tenant turnover, it might be time to consider selling it!
Is there another property that would better meet your current financial needs?
In the world of investing, this is called “Opportunity Cost.” What property are you potentially missing out on because your money is tied up in a different one? Take a look at what’s out there. Is there a better place you could be investing your money in what you want it to do for you?
Do you have “too much house?”
People buy their homes for what they need at the present moment. If you have a house full of kids, you might require a five-bedroom home. However, down the road, you might not need so much space. Keeping up with a home that is too large can be stressful! You don’t need to live in a house that it too high-maintenance. Maybe it’s time to downsize in square footage and in costs.
Or do you feel cramped?
On the flip side, people often grow out of there space. As families grow and acquire more things, they often need more space. Imagine what having a little extra space could mean for you and your family!
Is this really the house you want to be in forever?
As a matter of fact, there is no rule that states you need to stay in the same home forever. The best part of real estate is that you can move at any time you want. Think about your future or even just a few years down the road. Can you imagine yourself in the same place, or do you see yourself somewhere different? You can make that happen!
Does your house need repairs?
Maybe the house is old and is in need of repairs that you simply don’t want to make. Making repairs to a house that you don’t really want can not only be expensive but stressful and burdensome also. You can choose to work with a reputable direct buyer such as Jennifer Buys Houses, who will buy your Los Angeles house as-is. We will take care of everything, including any repairs.
Do you have equity in the home?
If you are able to sell your house, pay off your mortgage, and have some leftover cash to put down on a new house, selling might be right for you! If you are able to get at least 20% down for your new home, even better! If you would like to know more about the current value of your home, call us for a CMA (comparative market analysis) on your property! (424) 242-9304
What is owning your Los Angeles house costing you?
If you’ve owned a home for a while, it’s easy to forget about monthly and annual costs. How much are you really spending each and every month to own the house? The costs of homeownership go way beyond just the mortgage payment. You will need to consider other ways you are spending money on the house such as taxes, insurance, and maintenance.
If you have been thinking about selling, it likely means that it is the right time. There isn’t only 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!