Maybe you’ve been on the fence about selling your house. You are wondering if it’s the right time. We have put together a few questions to ask yourself to help you determine if it’s the right time to sell your Philadelphia home!
What is your property producing in your life?
Your house should be achieving one of these things for you personally:
- The home is your primary residence, somewhere that meets all of you and your family’s needs.
- It is a house you rent to high-quality tenants. It provides a consistent income with low overhead costs.
- You use the property for recreation. Maybe it is a place for vacations or weekend home.
- The home is an equity source that you tap into whenever you need to make a big investment decision
- The home is a family property that is used regularly on vacations
If your home is vacant or costing you in repairs or tenant turnover, it might be time to consider selling it!
Is there another home that would better meet your needs financially?
In the world of investing, they call this “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?
You could have your money in a hot new cannabis stock or you could invest it into another property entirely, it’s up to you! Just don’t put it into bitcoin whatever you do! Just kidding, we know nothing about that. Our team specializes in buying homes for investment purposes in order to rehab and rent them out to tenants or resell them on the open market to qualified buyers.
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 5 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.
When you own a home that has too much square footage for your needs it can start to feel like the walls are closing in around you and things can really begin to take a turn for the worst. If you are feeling like you are a single person in an extremely small living space then you may be in a good position to consider selling your home privately to an independent home buying company.
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 require more space. Imagine what having a little extra space could mean for you and your family!
Your children could finally get their own bedrooms and you could finally get that garage for your tools. Ladies, you could finally get that walk-in closet that you’ve been dreaming of. No matter what your tastes, you should definitely consider cashing out if you are feeling cramped.
Is this really the house you want to be in forever?
There is no rule that states you need to stay in the same home forever. The beauty of real estate is that you can move at any time you want. Think about your future, a few years down the road. Can you picture yourself in the same place, or do you see yourself somewhere different?
If you have been thinking about relocating and you are seriously considering it then you may want to call us now at (215) 882-9828 to get a free quote on your property right now. Our expert home buyers are standing by to provide you with a fair cash offer and we will never play games with you or make you wait for unnecessary reasons.
Does the house need repairs?
Maybe the house is old and is in need of repairs you simply don’t want to make. Making repairs on a house you don’t really want can not only be expensive, but stressful and burdensome too. You can choose to work with a reputable direct buyer such as Rapid Home Liquidation, who will buy your Philadelphia house as-is. We will take care of everything, including the property’s repairs.
You will either have to perform the repairs yourself or outsource them to a local contractor, and then you will be responsible for managing the contractor and making sure they don’t rip you off while performing the work to local building codes and standards. If this all sounds too overwhelming and you’d much rather prefer to cash out immediately and be done with the place then your situation meets the typical standards for selling to a local investment company.
Do you have equity in the home?
If you are able to sell your house, pay off your mortgage, and have some left over 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! (215) 995-4180
What is owning your Philadelphia house costing you?
How much are you spending each and every month to own the house? The costs of home ownership go well beyond a 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 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!