Should I Sell My House Or Not

So, Should You Sell Your House or Not?

Well, you can look at this question two ways. You can look at it as an investor or look at it as a person that just needs to sell. I phrased it this way because it depends on your circumstances as a homeowner. You should understand the type of market we're in and if you're selling because you have to or just because you want to.


**Let's say if you're an investor in this down market -


If you consider yourself an investor then it's a whole new ball game for you because you are looking to make a profit. Say, you bought a property in the high market in 2005 through 2007 and before you knew it, the market tanked before you could blink your eyes. If you still have that property in today's market at these low prices then you may want to HOLD on to it until the market bounces back. If you can afford it you may want to rent out the property for a while until prices begin to increase.


Now if you are running out of money and you need to sell that investment property now, then you most likely will take a loss in your expected purchase price and move on to the next property.


**Let's say you're just a homeowner that needs to sell -


Let me get something straight, even if you're not a bonafide hardcore investor, when you buy real estate you have automatically invested your money. Therefore, here are some great reasons for selling in this type of market:


-Loss of Income- If you or someone else in your home lost a job or you're now making less money or it's taking awhile to find another job then you may want to sell before you start to miss payments and could potentially go into foreclosure.


-Retiring - If you're retiring and you still have a large mortgage then you may want to sell because you will have less monthly income.


- To Many Repairs - I probably surprised you with this one. But if you're unalbe to care for your hom and it's falling apart at the seams then you may want to sell and get it off your hands.


-Relocating - If you have to relocate for a job, family situation or financial reasons then you may have to sell your home to use the profit towards your next purchase.


- Need More Space -Your family may be expanding and you may need more space. In this market it may be a good move for you to sell your home even if it's for a little less and get a great deal on a bigger home and it may even be in a better area.


-Downsize - If you want less space because the kids are gone or you no longer have a spouse or you're just getting older and can no longer manage the home.


-Senior - I come across many seniors who have homes that are to large to maintain, cannot manage the stairs, cannot take care of themselves any longer, or just want to move to warmer pastures. Most seniors have been in their homes so long that they hardly owe a mortgage or don't have one at all and they can buy another home at these low prices or live with their children or in a senior center.

If You Decide To Sell Find Out How To Do It In 21 Days!

***RENTING IS AN OPTION***


Renting is an option whether you're an investor or someone looking for extra income to make the mortgage. If you want to try to hold on to your home in this market then you may want to rent your home and move out. Better yet, if you have a basement you may want to move into the basement and rent out the larger portion of your home.


Be aware that you should choose your tenants carefully and do everything legally and use a lease. This way, if you want to sell and you need the unit vacant or if you just want them out after the lease expires it can be done.


--Did this article help you to answer your question? I welcome your comments.