Is it time to sell your house? The housing market is starting to turn around and in some states such as Los Angeles, San Francisco and New York City, the real estate market is actually booming. There are many factors that can affect your decision to sell.
During the housing crisis, many people bought over priced houses. Then the market dropped and they saw their house values plummet. Many owed more than their house was worth and were forced into foreclosures or short sales. Now with home values rising, there may be enough equity in your home to make it worth your while to sell.
What about the size of your house? Maybe your family has grown or you’ve taken in a parent. Now is a great time to look for a larger house. Many new homes are coming on the market this spring and interest rates are still low. Now is a great time to find the larger home to accommodate your family.
Maybe the opposite is true and you’ve become an empty-nester. Your looking to down-size to a home which is smaller and easier to maintain. There are some great small homes on the market or maybe a condo would better suit your lifestyle with little or no maintenance.
Interest are at an all-time low and have nowhere to go but up, so now is the time to make the move. Be practical, pick a house you can afford. You don’t want to be house poor. You want a house that you can afford to live in but also have money left over at the end of the month to enjoy an occasional vacation or the night out on the town.
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This blog was originally posted on www.agentrising.com on April 19, 2015