Questions To Ask When Thinking Of Selling Your Home

Questions To Ask When Thinking Of Selling Your Home
Video Transcription

You know, if you’re like most folks right after the first of the year, you might be thinking of selling your property and moving to a different property here in Tucson, and that is not uncommon at all. Hi, my name’s Karl Krentzel with Karl Buys Houses. I’m the broker here. There’s a lot of questions to ask when you’re considering selling your property here in Tucson, and I’ve compiled seven questions you want to go ahead and check out and think for yourself before you start selling your property here in Tucson.

First question you want to ask yourself up is, have you built substantial equity in your current home? You want to check your annual mortgage statement or call your lender to find out how much you’ve actually paid down. Usually you don’t build up enough equity in the first couple of years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant unrealized gains.

The second question you want to ask yourself is, has your income or your financial situation changed? If you’re making more money, you may be able to afford a higher mortgage payment and cover the costs of moving. If your income has decreased, you may want to consider downsizing a bit.

Third question, have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same one you want to settle in for good. You may have realized that you want to be a bit closer to your job or maybe to a different school district.

Another question, are there reasons why you can’t remodel or add on? Sometimes you can create a bigger home by adding on a new room or building on; but if your property isn’t large enough or if your zoning doesn’t allow it, you’re simply maybe not interested in remodeling, then moving to a bigger home might be the best option.

Another question, are you comfortable moving in the current housing market? Understandably, Tucson is a super hot market, but your home may sell super quick and for top dollar, but the home you may buy may also be more expensive. And so there’s a Catch 22 there. If your market in Tucson starts to slow down here, finding a buyer might take a bit longer but you’ll have more selection and a bit better pricing as you seek your new home. One of the key things you want to remember is that the market at the time doesn’t look like it’s going to speed up or slow down anytime soon. So it’s pretty good.

Another question you want to ask yourself, are the interest rates attractive? Right now the interest rates are at a 50-year low. The average about 3.9% currently at the time that I’ve recorded this, and they’re just at an all-time low. So that’ll enables you to buy a lot of property. Also, it helps a buyer buy your property, so it certainly makes it a lot easier for you.

And finally, is the effort and cost of maintaining your current home becoming difficult to manage? I’ve this 23 years as a real estate broker here in Tucson, and I can honestly tell you, you’re not the first one who would say to me, the house is getting a bit too much. If you’ve got a property that you’re looking to sell here in Tucson, but you don’t want to go through the hassle of having it listed, but you just want a fair, fast offer, then I invite you to give me a call today!

My name is Karl Krentzel with Karl Buys Houses and my number is (520) 403-6227.  Click on the link below and I’ll be happy to help you anytime. Thank you so much for listening, and also click on the link for a free download of this questionnaire. Have a great day. Bye-bye.

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