Should I Wait Until The Market Improves To Sell My Home: Something's Gotta Give

September 15, 2011

Are you a homeowner who is disenchanted with your current home and wants to get out? Do you keep thinking, "If I get out now though, I am not going to make any money on this home?" This is a common problem we encounter all the time. We have current homeowners walk into our models who want a new home, they fall in love, but they are afraid to let go of their current homes without something to show for it. It's a very common conversation to hear, "But I won't get out of the home what I wanted." This is the reality of a buyers market. As a seller, you are less likely in the current economy to get the monetary value that you wanted out of your current home if you sell it right now. Though there are exceptions to this rule for sure, this is a general concept you need to accept in order to move forward with you life as a homeowner. The good news is that you aren't just a home seller; you are also a homebuyer yourself! As a buyer of a new home you are getting lots of features, bells, and whistles that will, in most cases, far outweigh what you are giving up in your current home. And you will get all those features and upgrades for a heck of a lot less than you would if it was a sellers market. Even better, these features will be in a home you want to own, not one from which you would like to escape. What it is about your current home that has you shopping for a new home? Make a list. When you examine that list then ask yourself, are these situations and conditions you are willing to overlook for the next year? What about the next 2 years? How about the next five years? If you will increasingly be unsatisfied with your current living situation then you need to make some important decisions. Will you be able to reconcile the loss of funds you take in your old house to get into a house that more perfectly fits your needs? Remember, when the market improves for you to sell your home, so too will the market improve for a builder to sell his home. You will pay proportionally more for that home that you are in love with now that fits your family's needs now. In the current economy you are getting more bang for your buck in a new home, so you need to take that into consideration when you think that you are getting less money for your current home. That coupled with the fact that interest rates are at an all time low make it a perfect time to sell your old home, and buy your new home. Somewhere in your thought process, something has got to give. It will either be your concept of what you want to get for your home right now, or your concept of what you want to pay for a new home in the future. Image source: ©
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