How to Decide if You Should Sell Your Home

People sell their homes for lots of reasons - and some reasons are better than others. Before you decide to sell, examine all your options.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Local Real Estate Ads
• Real Estate Agents
• Notebooks
• Pens

1. List all the reasons you're thinking of selling your house. Do you want more room? Less room? A better neighborhood? To be closer to relatives?
2. Consult the real estate section of the local newspaper to determine if it is a buyer's or seller's market. If you have a choice it is better to sell in a seller's market.
3. Rule out other options before you sell. For example, talk to contractors and visit your local home improvement store to get an idea of how much adding on or making other remodeling changes might cost.
4. Look into rental prices in your area and consider renting out your home. A local real estate office or property management company can give you a good idea of what the rental market looks like, also, check the real estate ads.
5. Ask your banker if refinancing could make your mortgage payments more manageable if your current house payment is a concern.

Tips & Warnings

• Talk to several real estate firms to get a feel for commission fees, what the market in your area is like now and what its future looks like.
• Consider the time of year you might sell. In some areas, summer favors sellers and winter favors buyers. Find out if seasonal trends exist where you live and use them to your advantage.
• Don't expect real estate agents to provide a lot of information about options for not selling your home. They want your commission if you sell!