Step 1: Defining Needs: Write down all the reasons for selling your home. Ask your self, “Why do I want to sell my home, when do I want to be there and why do I want to be there. Also ask yourself, what do I expect to accomplish with selling my home? Is it to pay-off debt, to downsize in home so you can contribute more money towards retirement, or are you selling your home to start a business. None the less ask yourself, why you are selling your home.
Additional reasons for selling your home my include the following…
1) A growing business that needs more space.
2) A job opportunity that necessitates a move to another city or state my be a reason for selling your home.
3) A growing family may constitute for selling your home.
4) Want to move up in home
5) Want to down-size in home
6) Want a single story versus a 2 story and vise versa, may constitute for selling your home.
7) Things you want to accomplish with the sale may include the time frame in which you’d like to sell or a particular profit margin. Work with your Real-Estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale.
Always remember when selling your home to stay within budget when buying your next home. A lender may pre-approve you for a loan amount higher than what you can actually afford within your household budget. When selling your home there’s alot to consider. In my next blog, I’ll discuss pricing strategies and pricing your home to sell at the highest price and at the quickest time possible. Just because you have been approved for something doesn’t mean you can afford it. Selling your home should not be a nightmare. Consider consulting a financial coach to construct a working and functioning budget.