The days of people buying a house and living in it until they retire or die are gone, if they ever really existed in the first place. On average, Americans who own their own home sell it and move to another one every five to seven years. Sometimes it is because they have outgrown their first “starter” home after deciding to start a family and discovering that children take up more and more space as they grow up. Other times someone gets a new job and does not want to commute forty miles each way to work. Selling a house can be a pain, but you can relieve some of the pain by making a clear plan for what you want life to look like after the contracts have been signed and you have handed over the house keys to the new owners.
Upgrade In Other Areas
We hear a lot about people wanting to sell their house to upgrade to something better, but it is also not uncommon for people to decide they do not need as much space as they previously believed, and that the cost of home ownership is not worth it to them at this particular moment in time. All that yard work and home maintenance can get exhausting fast, especially if you live in a fixer-upper. If you sell your four bedroom home and downgrade to a two-bedroom cottage, you should then have some money left over for other pursuits. If your car is a decade old and barely runs, head down to your local Ford dealership and pick out a vehicle that is either new or new to you. Maybe you have been throwing a lot of money back into a house when you really wanted to take a look at finally investing in the stock market. If so, take some time to research various approaches to investing, including swing trading strategies. It is great that you have some extra money now, but you want to make sure you handle it responsibly.
The Time Factor
Do not delay making a plan, because you figure you have plenty of time, either. Sure, sometimes it can take months to sell a house, but, as of 2017, the average time to sell a house is just three weeks, according to the National Association of Realtors. If you live in a particularly hot housing market like San Francisco, it may only be a matter of hours before a buyer approaches you with an offer in hand.
It is important to decide ahead of time what you want to upgrade or repair and what you want to leave for the next homeowners to handle. If you hire a New Jersey construction company to replace the siding on your home, that may mean you can ask for a higher price when you are selling the home. However, it is also going to mean having to wait a bit longer to put the house on the market, and there are circumstances where that is far from ideal. Housing markets tend to ebb and flow with the seasons, so talk to your real estate agent and figure out the best time to list your home for sale. The sooner you get rid of your home, the sooner you can move on to the next phase of your life, regardless of if that includes renting a loft downtown or traveling across America in a new RV.