Maybe you’ve been on the fence about selling your house. You are wondering if it’s the right time. We have put together a few questions to ask yourself to help you determine if it’s the right time to sell your Kansas City home!
How is the property benefiting you?
Your house should be doing one of these things:
- The home is your primary residence, somewhere that meets all of you and your family’s needs.
- It is a house you rent to high-quality tenants, generating a consistent income stream while keeping overhead costs low.
- The property is utilized for recreation, serving as a vacation spot or weekend retreat.
If your home is vacant or costing you in repairs or tenant turnover, it might be time to consider selling it!
Are there any other properties that could be a better financial fit for you?
In the world of investing, they call this “Opportunity Cost.” What property are you potentially missing out on because your money is tied up in a different one? 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?”
When it comes to buying a home, people often prioritize their current needs. For instance, a family with several children might require a spacious 5-bedroom house. However, as time goes on, their space requirements may change. Maintaining a large home can be overwhelming and time-consuming. It’s important not to burden yourself with a house that demands excessive maintenance.
Or do you feel cramped?
On the flip side, people often grow out of there space. As families grow and acquire more things, they often require more space. Imagine what having a little extra space could mean for you and your family!
Is this really the house you want to be in forever?
There is no rule dictating that you must remain in a single home indefinitely. The allure of real estate lies in the flexibility to relocate whenever you choose. Envision your future a few years ahead – can you see yourself in the same location, or do you imagine a different place altogether?
Does the house need repairs?
Perhaps the residence is aged and requires repairs that you’re hesitant to undertake. Repairing a house you’re not genuinely interested in can be not only costly but also a source of stress and burden. Opting to collaborate with a reliable direct buyer like Faithful Home Buyers KC LLC, who will buy your Kansas City house as-is. We will take care of everything, including the property’s repairs.
Do you have equity in the home?
If selling your house allows you to clear your mortgage and have surplus funds for a down payment on a new home, it could be the right move for you! Having at least 20% down for your new property is even more advantageous. For further insights into the current value of your home, feel free to reach out to us for a Comparative Market Analysis (CMA) on your property! 816-237-0869
What is owning your Kansas City 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. It’s essential to factor in additional costs like taxes, insurance, and maintenance when assessing your overall spending on the property.
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!