Sellers in today’s real estate market are generally more cautious and unsure if they should put their home up for sale, or just wait it out. Due to the decline of the housing market in recent years as an effect of the recession, putting up your Randolph County NC home for sale could be quite challenging.
Add to that, the dip in home prices has also presented a new challenge for homeowners, who now find that their homes are now worth less than the amount purchased it for 5 or 6 years ago.
Some homeowners are actually putting their Randolph County homes for sale out of necessity instead of the desire to move up. These sellers may have been hit with the recession and may be facing foreclosure and need to move to a smaller house.
With all these dire conditions in the real estate market, how do you know that it is the right time to sell your Randolph NC home?
1. Get the help of an expert Randolph County NC listing agent. They have access to multiple listings in your area and can match you with the right home suited to your needs. They also know important facts such as how long homes are staying in the market, which neighborhoods are selling, average sales prices, and many more relevant information for sellers.
2. Find out how much your home is worth in the market. Knowing your home’s current market value will help you decide whether you could afford to sell or give you an idea of the loss you may face should you decide to sell now.
3. Evaluate your financial standing. Could you afford to move? Moving is costly. Aside from the cost of down payment for the new home, which is usually 20%, there are the closing costs to deal with which could go up to thousands of dollars. You also need to consider other incidentals like home inspections, storage rentals, and U-haul rentals.
4. Think about your reason for selling. Why do you want to sell? Some people need to sell because they need to relocate for a new job. Some need to sell to avoid foreclosure. Other families outgrow their homes need to move up to a bigger Randolph County NC home.
5. Consider the social effects of moving on your family. Will your children need to change schools? Will you be moving far from family and friends? According to recent studies, owning a home brings the owners better health and a more stable household. The opposite could happen if a family is uprooted from their home.
Selling a home is a huge decision which affects not only your finances but also your emotions. Putting up your Randolph County NC home for sale can be favorable for you if conditions are good in your area. To make sure you are making the right decision and it is the best time to sell, get the help of experienced Randolph County NC REALTORS.