At the same time, low mortgage interest rates are making home ownership a reality for many people. When you add up the factors that are in a seller’s favor, it could finally be time to put up the “For Sale” sign.
If you plan to sell and buy another residence, this might be the very best time to do it. In some areas of the country, sellers are receiving multiple competing offers for their homes. In some areas, you might get a little less for your home than you want, but you’ll also pay less for your dream home.
Experts at wealthpilgrim.com give a comparison of trade-up home values. Say your current home is worth $250,000 and you want to buy one that costs $500,000. If you wait a few years to complete the deal, your present home might go for $25,000 more, but your new home will cost $50,000 more. And today’s super-low interest rates might not be there when you trade up.
There are four key elements that go into a successful home sale:
* Find a realtor who has the experience and the work ethic to advertise, negotiate, use technology and handle all facets of the sale.
* Price the property competitively. Your real estate agent will make a competitive market analysis (CMA), considering prices and features of recently sold homes in your area. He or she will help you zero in on the best asking price.
* As the seller, you need to do your part by presenting a home that is attractive, clean and uncluttered. Make any necessary repairs so the home is in “move into” condition.
* Consider your home’s curb appeal. Cut the grass, place pots of flowers by the door and make sure the windows shine.