Are you deciding Should I Sell My House In Huntsville? If you happen to live in Huntsville, Alabama and you have come to that juncture in life where you are faced with the important decision of whether or not to sell your house in Alabama, then this is for you. There are a few specific things you need to consider about Huntsville before deciding on whether or not to sell. Here are all the factors to consider when making this decision;
Home Equity
The first thing you need to consider is equity; home equity is the percentage of your home you truly own. If you bought your house with a loan, you build equity by how much interest you have paid back. If you bought your house with cash, that means you have 100% equity and all proceeds of the sale is profit for you, that is a good sign to sell. However, if your equity is low, it would be wise to focus on building equity before you consider selling. Selling your home in Huntsville with low equity means that you would be selling the property at a loss.
You can determine your equity by subtracting your loan balance from the market value of your house. Ask a real estate agent to run a free comparative market analysis so you can get a better estimated market value of your house. Good equity is about 65% and above. With equity, you should also consider if you have enough to make a downpayment on a new house and to cover the costs of storage and moving fees.
Timing
Another thing to consider is the timing. Is it the right time to put your house up for sale? Research has shown that the best time to put your house up for sale is at the beginning of summer. This is because when people think about moving, they usually add time to settle down into their new environment especially since the biggest reasons for moving are new jobs and schools. Children going to new schools would need time to get to know their new house and community. This is why summer is the best time to put your house up for sale.
In spring the real estate market slows down and in winter it is at its lowest. The pro of listing your house for sale in summer is the fact that you will get enough offers ranging in flexibility to negotiate with. Getting a large number of deals due to the rush of the season can help you be specific about what you want and close on a deal that satisfies you.
Upgrade Home Value
You also need to take into consideration the possibility of upgrading the value of your house, let’s say you have got the pricing but the market value just doesn’t impress you. You need to ask yourself if you are in a position to make upgrades to your house. Is that something that you can afford to do? How much of an upgrade are you willing to add? If your property has a few leaking pipes then you want to fix those. Even a simple upgrade like covering your walls in fresh paint can go a long way in impressing buyers and increase value. So if you can make upgrades, that is another pro for team sell your house.
After determining all the above, the next big question is HOW? You need to look at the cost of selling your house in Huntsville and if you can afford such costs. With property sale you have three options;
1. Sell through an agent
Agents handle your paperwork, determine what parts of the house need an upgrade to increase its market value, advertise and determine adequate and appropriate pricing for the house. You should know however that real estate commission in Huntsville ranges from 4% to 6%.
2. Sell by your self (FSBO)
This method involves guessing what part of the house to upgrade to increase market value, advertising, doing your paperwork, and your own open house showing. If you are thinking of selling using this method, you should take into consideration your neighborhood and how much similar houses around are selling as well as the conditions they are in. in a nutshell, carry out a Comparative Market Analysis could help determine a decent price listing and save you on the cost of selling.
3. Cash home buyers
Selling through cash home buyers in Huntsville is a thing now. Cash home buyers buy a house as it is with all its flaws and they have a pro in that they take the property off your hands immediately and pay cash rather than financing through a mortgage.
We buy houses all over the Huntsville AL area, in any condition. If you have a Huntsville property and need to sell it , we’d like to make you a fair cash offer and close on it when you’re ready.
With these few tips, we hope we have been able to help you make a solid decision, for the question Should I Sell My House In Huntsville?
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