Have you been daydreaming about your next home or looking through online listings recently? It may be time for you to relocate. However, before putting your house on the market, make sure you’re ready to sell.
Market conditions, your housing needs, and your financial situation are all important factors to consider.
Moving, as stressful as it is, is a necessary process for many people. Many people sell their homes and relocate as a result of a new job, a new marriage, having a baby, or health issues.
So, how do you know if you’re ready to dive in?
Your current house feels too small or too big for you
It’s not uncommon for new couples to move into a small house only to discover that they need more space after having two children. Perhaps, you should downsize. If all of your kids have moved out, you may not need as much space. A smaller home allows empty nesters to save money on living expenses by needing less cleaning and maintenance.
Your home need no repairs
Houses in good condition sell faster. Your home is probably in good condition if you’ve been keeping up with maintenance.
You should only need to do minor touch-ups like painting, repairing scraped doors or cabinets, cleaning carpet stains, and possibly some landscaping to prepare your home for sale. But even so, if your home has significant damage, such as a leaky roof, faulty plumbing, or a cracked foundation, you should repair those issues before putting your home on the market.
Your good with your finances
Can you afford to relocate? If you decide to buy before you sell, make sure you have enough liquid cash to cover repairs to your current home, moving expenses, and two mortgages.
Evaluate your debt-to-income ratio. The lower that number, the better chances of getting a loan at a low interest rate. You should also check for collateral assets that you can present upon loan applications. Banks are strict when it comes to lending, but if you check off everything on the list, you won’t have to worry about anything.
You’re struggling to keep up with maintenance
The larger or older your home, the more difficult it is to maintain. If you’re too busy to do the maintenance yourself, you might have to hire someone. Unfortunately, outsourcing can quickly become prohibitively expensive.
That includes expenses such as:
- Roof repairs or replacement
- Toilet repair
- Plumbing checks and repairs
- Sink or shower drain repair
- Upkeep and repair of HVAC and other appliances
- Water filter system replacement
- Pest control
If repairs and maintenance are taking up too much of your time and money, it may be time to sell your home.
For more information about the Elanvital Enclaves residences, you can call +63 9271440196 or look at our website.
