We’re all spending more time at home in 2020. As a result, many homeowners are taking on remodeling projects in an effort to enhance their space. But there are also plenty of folks who realize that it might be best to just sell their residence.
When to sell your house
You need to upgrade
Perhaps you’re hoping to grow your family in the near future and your condo won’t provide enough space. Or maybe you’ve always wanted a house with a big backyard where your dog can roam and you can garden. In any case, if you feel as though you’ve outgrown your starter home, it’s probably time to upgrade.
It makes financial sense
Money plays a significant role in one’s decision to sell their house. For example, let’s say you purchased your first home when you were just several years into your career. Now that you’ve established yourself as a professional and you’re earning a larger paycheck, why not explore those pricier homes?
The alternative scenario is that you’re nearing the end of your working years and you won’t be receiving a regular paycheck for much longer. Downsizing would allow you to pocket some cash from your previous residence while also getting into a smaller, safer, and more manageable home for your golden years.
The upkeep is too much
This ties back to the previous point regarding downsizing. As homeowners age, it becomes more difficult to perform routine tasks, such as cleaning, doing laundry, or mowing the lawn. Swapping a larger home for a smaller one eliminates a lot of this stress and gives these homeowners the chance to focus on enjoying their family and hobbies as opposed to worrying about upkeep.
You’re ready to cash in
Have you ever felt trapped by your mortgage? Sure, you may love your house and even the neighborhood in general. But take a moment to consider how your life might be different if you didn’t have to budget for such a significant expense every month.
We’re talking about selling your house and essentially pocketing the cash. You can then use those funds to finally go on those dream vacations or possibly retire early. It all depends on your personal situation and how you choose to live your life.
Location, location, location
Be honest with yourself: do you like where you live? Is it convenient to get to the office in the morning or are you forced to leave extra early in order to beat rush hour traffic? Trust us, if you haven’t gotten tired of that hour-long commute both ways, you will soon enough.
Save yourself the daily headache (and gas money) and find a home in a better location. We aren’t necessarily talking about a place right next to work, either. Many people decide to sell their house so they can be closer to their parents or other family members.
Home prices are up
Think back to when you first bought your house. At the time, you wanted to invest in yourself rather than pay someone else’s mortgage. Slowly but surely, you started to build equity in the property.
Fast forward to 2020 and home prices continue to rise. That’s especially true in Colorado, where historically low interest rates and a shortage of homes on the market have led to a perfect storm for sellers. Take advantage of these home prices while you can, as this trend certainly won’t last forever.
Should I sell my house in 2020?
We’ve spent the majority of this article discussing the many reasons to sell your home. Now for the follow-up question — should you really do so in 2020? It’s a justified concern when you account for COVID-19 and all the uncertainty that comes with the virus.
We’re here to tell you that, yes, it’s still a great time to sell your house. We only advise that you do a bit of research before hiring a real estate agent. These days, the last thing you want to do is end up working with a realtor who does not have your best interests in mind.
At American Home Agents, our team has adjusted seamlessly to the “new normal.” We’ve tweaked our approach to listing a home during COVID-19 so that our clients feel safe and comfortable throughout the process. And we’ve done so without compromising our quality of service.
Why let the thought of selling your home keep you up at night? American Home Agents will guide you through every step of the way. Give us a call at (303) 695-5900.