As we come through the Great Recession, some homeowners may be wondering if they should make the decision to sell or stay put. Here are somethings to consider: 1. Your neighborhood no longer meets your needs. Whether its because the kids are grown and you dont need the school district, or you are planning for children and want a different school district, or your job has changed and so has the commute, or the play set is driving you crazy on a monthly basis, if you have a serious neighborhood-life disconnect and think about it every time you write a mortgage check, then this could be a strong reason to sell. If you can manage a move in a financially responsible way, then consider looking for something that is going to make your daily life more pleasant. 2. The space you have is too small or too large. Parents know that kids have lots of stuff. If you are tripping over toys in the night or long for a playset in the missing backyard, then consider a move if your space needs are likely to increase over the next 5 years. If you are anticipating kids in college and can project your space needs decreasing over the next five years, then consider staying put until you can downsize. 3. You really can not afford to move up. Understanding the costs of a bigger house with a bigger mortgage, more furniture, more maintenance, and other financial obligations is critical. Run a budget to see if it is affordable. Stay put rather than be financially reckless. 4. Hiring a handyman or contractor could fix what ails you. That honey-do list just keeps getting longer. Those projects that need doing just never get done. But if they were done, your home will become the castle you dreamed of when you first bought it. Consider hiring someone to do those things rather than buy something new. Deferred maintenance items and any safety issues will likely need to be repaired to satisfy a new buyer anyway. Consider doing those repairs and/or upgrades before you think of selling. Then you can enjoy them yourself for less money than a new mortgage. Questions? Need a reliable handyman or contractor? Call for a list of my go-to service providers. Im happy to research, advise and recommend or help you make the move you need.
Posted on: Mon, 28 Oct 2013 13:23:47 +0000
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