It’s hard to figure out when it’s the right time to sell your NJ house with all the market changes. In this blog post, we have some items for you to consider before selling your house in NJ!
What is the property doing for you?
It could be weird to ask that, but in reality, your house should be “serving” you in one of these 3 things:
- It’s your primary residence and it meets all of your needs
- It’s a rental property that you rent to high-quality tenants for a consistent income with low overhead costs
- It’s a recreational property that you have to relax with your family (like a weekend home)
If none of the 3 items above were met, then it’s time to sell it!
Is there another property that would better meet your needs financially?
Something that few homeowners think about is Opportunity Cost. What are you missing out because your money is all tied out in one single property? Take a look at what’s out there. Is there a better place you could be investing your money?
Do you have “too much house?”
Did your kids go to college already? Do you still need that much space? Remember that a big house costs more money as well as time to maintain it. Sometimes it’s better to adjust the house to your current needs, instead of keeping a high-maintenance house.
Or do you feel cramped?
On the other hand, families grow and need more space. As the families grow, they also buy a lot of more stuff that often require more space. Imagine having a much bigger basement or garage. What could that extra space mean to your family!
Is this really the house you want to be in forever?
I get that – we’re human beings, and we love to attach to our stuff. However, we should be cautious about getting too attached to our house. There’s no rule that states that we need to stay in the same home forever. Think about your future. Can you see yourself in the same place, or do you see yourself somewhere else?
Does the house need repairs?
As your house gets older, it’s going to need repairs you simply don’t want to make. Making repairs on a house you really don’t want can be expensive, stressful and bundersome. You can choose to work with a reputable direct buyer such as Orange Sun Investments, who will buy your New Jersey house as-is. We will take care of everything, including the property’s repairs.
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! 1-888-WE-BUY-NJ
What is owning your New Jersey 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!