When you meet with us, we'll get to know you to understand your selling goals, and explain the selling process so you know what to expect. We will come prepared with comparable property data to show you how much to list the property for and how long it should take to sell. We will also show you the innovative technology we use to market your listing and manage the whole transaction to make sure nothing slips through the cracks. You will never feel left in the dark when you work with our team - we keep you in the loop so you know what's going on every step of the way.
Equity is the value of your home minus any home loans. If your home is worth $300,000 and your mortgage is $200,000 then you have equity of $100,000. If this is enough to pay all your expenses such as selling and moving costs then now is a good time to sell. If not then you may be better off waiting until either you can pay off more of the mortgage or prices increase.
The market can change every year and will vary greatly depending on your location and time of the year. Do some research and talk with Realtors to gauge how the market is. Spring is a time when a lot of buyers are in the market. Put your house up for sale at the right time of year and you can see a huge return. If you live in an area with a temperate climate and good weather you'll have a higher chance of finding plenty of buyers. Keep in mind though that this means more competition from other home sellers
If you have any big renovation projects going on it’s best to wait until they are complete before putting your home up for sale. Kitchen and Bathroom remodels can pay for themselves and even leave a profit if the market is in your favor. Improving the structural integrity of your home through new plumbing, roof or windows can really push up the value of your home so it's worth more investing in these than interior remodeling.
Once the mortgage and other selling expenses are paid off can you still afford to move? Expenses for moving can move well beyond $1,000. Once you have moved you’ll then have to pay a down payment on a new house from your selling profits. If the sale cannot cover all this then put the sale on hold and wait for a better time.
In the real estate business, you have a huge advantage if you’re willing to wait for an offer that suits you. If you need to move in only a few months and a buyer knows this they may offer less than what it’s worth since they know you need to sell fast.
From all this, it's clear that timing is a large factor when deciding when to sell. If you expect you will sell within the next 3-5 years then now is the time to start planning for it. Plan for renovations that will raise the value and be completed on time, pay off more of your mortgage and keep a close eye on the housing market. If done right your house can sell both fast and profitably.
Call the most respected real estate broker in London today for a free no obligation consultation.