Thinking About Selling Your Home? A Few Things About The Current Market
If you are thinking about selling your home, you probably want to know what it is worth and how the market is. You can and should do your own research to get this information. However, you will also need to talk with a real estate agent to find out what is selling in your area and how other options may be better for you in the real estate market. Here are just a few things that you may find have changed since you bought the property.
Housing Sizes
While there will always be the families that want a big, sprawling house, they are not always affordable to young, first-time home buyers. Of course, if your home is one with four bedrooms, a family room, formal living room, and den, that doesn't mean you are not going to be able to sell. It just means that you are really going to have to work hard at it to get the price you want. Be prepared to make sure your appliances are newer models and that everything looks new, such as paint, flooring, etc. You may be able to do a bit of work to the place and turn it into a duplex and sell each half separately.
Renting
If you do not have to have a lump sum of cash to purchase your next home, consider renting the property. A large home can be turned into multiple units to rent. If you are not up for being a landlord, hire a real estate agent to be the property manager. This will give you a regular monthly income that might be handy if you are at retirement age. Many young couples prefer to rent over buying until they have a solid, secure life and future.
Marketing
When you talk to the real estate agent about listing your home, you need to be sure there will be more to it than simply putting the property in the multi-listing. Ask about social media sites the agent uses and all the different Internet sites that list homes for sale. Many people spend a lot of time online searching for houses to look at and only contact an agent when they are seriously interested.
Take your time when deciding whether or not to sell your home. Talk to an agent to find out what can be done to make your home more desirable. If at all possible, consider renting for a few years until more of the millennials are ready to buy.