Every homeowner can have all sorts of reasons for selling their house. Those in the boomer generation can be in one of the traditional phases of retirement (planning, transitioning, initiating) or perhaps in one of the newly-popular phases (postponing, rejecting).
For them and everyone else, the decision about whether to sell the house falls into one of two categories: those triggered by economic pressures — or all the other reasons. In all cases, being in control of the timing of your house sale will put you in control of the process. That pays off.
Even if the money factor doesn’t rule, it’s vital to first do some hard-nosed dollars-and-cents calculations before putting your house on the market. Find out what a realistic listing price range will be. I or another experienced real estate professional can be a major asset in establishing this: you can count on a complimentary consultation that will offer comparable current values for East Monmouth County and Jersey Shore area house sales.
Then consider current rental rates for a house like yours. Sometimes you will be surprised to find that the most beneficial course would be to rent your house for an interim period, especially in light of some evidence that a market rise is just beginning. When you are penciling out these factors, be sure to include realistic maintenance expenses and, if you are moving out of the area, property management fees. I can help here, too.
If financial pressure is the key motivating factor, make sure you have weighed the alternatives before sealing the decision to sell your house. If you haven’t done so already, find out if refinancing is an option. The first answer isn’t necessarily the final one: check with other financial sources as well as your current mortgage holder. Mortgage rates are lower than ever, and if unmanageable mortgage payments are at issue, this could be the most direct route to reducing that outflow and giving you time to sell on your own timetable.
Being methodical and patient when deciding about any house sale can make a big difference in the bottom line. Patrick Parker Realty is here to provide current Monmouth County information and guidance that will help make that possible.