Selling a home is a significant decision, especially in a vibrant and desirable market like Central Oregon. With approximately two-thirds of homeowners having over 50% equity in their homes, it may be compelling to make a change and cash out into a new adventure and home. While statistics are compelling, life circumstances often dictate our choices.
Here are 10 crucial questions to ponder before listing your home:
1. Why Am I Selling?
Understanding your motivation is key. Are you relocating for work, downsizing or seeking a change in lifestyle? Clear objectives will guide your decision-making process.
2. Am I Connected to the Right Resources?
Ensure you have access to key professionals such as real estate agents, lawyers, financial advisors and local market experts. Their guidance can be invaluable in navigating the complexities of selling your home.
3. Can I Afford the Costs Associated with Selling?
Selling a home involves expenses such as repairs, staging and agent commissions. Ensure you have the financial means to cover these costs.
4. Am I Ready to Handle the Emotional Impact?
Selling a home can be an emotional journey, especially if it holds sentimental value. Consider if you are prepared for this aspect of the process.
5. Is Now the Right Time to Sell in Central Oregon?
The local real estate market fluctuates. Research current trends to determine if it’s a seller’s market or if you should wait for better conditions.
6. What is My Plan Post-Sale?
Have a clear plan for your next steps. Are you buying another property, renting or moving to a different area? Planning ahead ensures a smoother transition.
7. How Much Equity Do I Have in My Home?
With over two-thirds of homeowners in Central Oregon having significant equity, knowing your equity position helps in understanding your financial flexibility.
8. What Are the Tax Implications?
Selling a home can have tax consequences. Consult with a tax advisor to understand potential liabilities or benefits.
9. Have I Considered All My Options?
Explore alternatives such as renting out your property or leveraging a home equity loan. Sometimes, selling may not be the best financial move.
10. Do I Have Tenley Sage Houghton’s Number to Schedule a Free Home Consultation?
Having professional guidance can make all the difference. Contact Tenley Sage Houghton for a personalized consultation to navigate your home-selling journey. 512-657-9695, tenleysage@gmail.com.
Connect with professionals in the industry at the Bend Real Estate Investors Meetup!