What To Consider Before Selling Your Home
Few tasks in life are as stressful as moving. Not only are there significant financial and practical issues that come along with the daunting task of changing homes, but it can also have a surprisingly strong emotional impact. Art Di Segna has been a realtor in Texas for nearly two decades. He has assisted hundreds of buyers and sellers in the Texas area.
There are few things in life that you can purchase and sell later for the same or a higher price. If your home has recovered enough value to provide at least 20 per cent equity for your next purchase plus costs, it’s worth considering.
For most homeowners, being financially ready to sell your house comes down to one factor: equity. Following the over-inflated market of 2007-2011, many homeowners found themselves with negative equity, which meant they owed more on their homes than they were worth.
Clearly, selling your home when you have negative equity is not ideal. That is called a short sale. Breaking even on your home sale is better. If you’re in either situation, it is not a good idea to sell unless you have to in order to avoid foreclosure.
How do you know how much equity you have? Mortgage balance minus home value and sales expenses equals equity. How do you know how much your home is worth?
Either have it appraised or ask Art Di Segna,, real estate agent to give you an opinion of value. Just a note here, this can use up a lot of an agents time and resources so it really is not fair to ask them to do this unless you are intending to list with them.
As you can see, the decision of when to sell your house isn’t solely based on market conditions. You have to take your personal situation into account, and thats where expert advice comes in handy. A reliable real estate agent will give you a clear picture of what its like to sell your house and if now is the right time for you, both financially and emotionally.
Do your research, reach out to professionals like Art Di Segna, stick to your budget. As you can see, the decision of when to sell your house isn’t solely based on market conditions.
“What To Consider Before Selling Your Home”: was provided by Art Di Segna, a recognized leader in his field. Art can be contacted via email at Art@FineHomesOfTexas.com by phone at (281) 415-5888 or Contact Me. Art has helped hundreds of people move in and around many Houston towns for the last 14+ years.
I specialize in working with buyers in the following areas: Houston, Spring, Cypress, Tomball, Magnolia, Conroe, Huntsville, Point Blank, Lake Livingston area, Onalaska, Cape Royale, Cold Spring, Blanchard, Trinity, Woodville Texas