Wednesday, March 04, 2015

Are You Ready to Sell Your Home?


First published on PropertyAsia.ph 

Do you want to sell your home, but you’re not quite sure when’s the right time? To help you decide on when’s the best time to sell your home, here are some important things to keep in mind:

Would It Get Sold Right Away? 

If you were to sell your home right now, would it get sold right away? Think twice.

If you’re moving or relocating for a new job, you could try renting out your house first until you’re ready to put it on the market. By doing so, you’ll have enough time to adjust to your new environment and focus on home selling later.

Weather/Season 

Real estate experts say that the weather or the season may affect your chances of selling your property. Bad weather can prevent most home buyers from searching for new homes. Good weather, on the other hand, can prompt prospective buyers to go out and show up at your open house.

Housing Inventory 

The housing inventory in your market may affect your timing and chance of selling your home.

A real estate agent can help you determine the housing inventory in your market, which changes every year. If the inventory of homes is low, it may be a good idea to sell your home at that time. 

Home Condition 

The physical condition of your property is a very important concern when selling.

Apparently, you can’t sell your property if potential home repair issues are visible. Before you plan to sell your home, you have to make sure it’s in its best condition.

Also, if there are major construction projects in your area and your prospective buyer finds out, expect the buyer to haggle over the price.

In situations like these, we suggest that you postpone selling your house. Wait until your house is ready and the construction works are over.

Current Employment Rate 

In general, people who are looking for properties are financially stable. So if the current employment rate is going downhill, you have a very low chance of selling your house.

However, you can explore tax incentives in your area. Tax rebates can be a strong motivation for home buying.

Market Condition 

Find out the current mortgage interest rates. If they are quite high, that’s good news for you. However, most home buyers purchase a property when the interest rates are low.

In addition, if you’re going to sell your home in a tight market, which is not advisable, the home buyer has more chances of getting your home at a much lower price. 

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