The decision to sell one's home or not is not one that should be made lightly. In fact, this a decision many people have a hard time with.
Especially in a hot market, like the one many areas are experiencing, the choice to sell a property or not can be agonizing.
A Want VS. A Need
First things first. Do you need to move? If so, then the choice is easy, though it might be bittersweet. There are several reasons why one might need to move and if any apply to you - then it's best to get to packing. But wait. Can you afford to rent out your home and purchase another? If so, then we're back to where we started.
The desire to sell might be high right now as housing prices continue to rise. Maybe you bought your house for $400,000 and now it's worth 1.2 million. Think of the return on that investment. But, it's important to remember that you'd have to buy another property most likely and that would mean spending the prices that homes are going for.
Opportunity
On the flip side of opportunity is your own - on the buying side. Most people that sell don't want to go back to renting. So, this means that one must feel they are able to not only afford a different home but also find one they like as much as - or more - than the home they'd be selling. This is the bind a lot of homeowners find themselves in. Do they want to sell badly enough to go through the hassle of moving? For some - the answer is an easy yes and for others, it's a long drawn out pro/con list.
At the end of the day, the decision to sell or not is an extremely personal one. Keep in mind the current market in terms of housing prices and also, inventory and your own circumstances and good luck!
Do you have a lot of equity in your home? Do you own a home that is in high demand (single story or a starter home)? Then now may be a great time to sell. This is because these homes are highly sought after and you'll surely get a great price.
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