In today's housing market, it is increasingly important to be totally prepared for the reality of selling your home. It's easy to get caught up in the excitement of finding a new home and forget about the fact that no new home will be affordable without selling your existing home. Make sure you've asked yourself these tough questions before listing your home.
The process of finding a home is relatively easy compared to the process of selling your current home. Most of us can't vacate our homes and move into our dream home so that potential buyers can see a nice clean empty house. Most of us will be living the life of a split-personality- living, working, eating, sleeping, and occasionally playing in our current home versus maintaining the clean, pristine looking, well-maintained and immaculate home we present to the potential buyers. The longer you are forced to keep up this double life, the more draining and challenging it becomes.
So, with that being said, here are the ten tough questions you must ask yourself before deciding to list your home with a real estate agent:
1. Must I sell this home right now?
2. Can I wait a year or two before selling my home?
3. Why do I want to sell my home?
4. What do I expect to find in my new home that is better than the home I'm currently living in?
5. Exactly how much can I afford in a new home? Remember, bigger homes carry bigger expenses.
6. Can I qualify for the mortgage on the new home? Am I sure of this?
7. Where will I get my mortgage?
8. How long can I wait to sell my home?
9. Can I handle the stress of constantly having to clean my home at a moment's notice?
10. What is the bottom line price I can take for my existing home before my new home becomes unaffordable?
Take the time to answer each of these questions carefully. Yes, people are still able to sell their homes in this tough market. But it's taking longer and they are getting less money for their homes than they thought they would. Are you ready for that?
If you are fully aware of the difficulties surrounding home sales in today's market, you will hopefully be better able to handle the stress of these turbulent times.
Good luck!
