When is it the best time to buy or sell? This is a common question for us these days, and the answer is not easy. There are so many factors that go into the equation, that we find each client’s situation will have different results. Here is a list of questions to help you get started if you are considering buying or selling this year. At the end of this assessment, if you answered YES to 3 or more of the questions, we would say you are close to ready to make a move in 2015.
Buying in 2015:
Are you financially stable enough to make a purchase this year?
– Earnest money, down payment, inspection costs and closing costs are all aspects of the buying process that require cash on hand. We also have a great resource of lenders to talk to about your options and your financial outlook for buying a home now or in the future. Contact us here to get a list of our proven lenders.
Do you have the capacity to take on a little more between work and personal time right now?
– We see it taking most clients 90 days to complete a home purchase, 90-180 if they are selling and buying. Establishing criteria, connecting with a lender, shopping for a home and getting it from contract to your new home can take 3-5 hours a week. A home buying project requires focus and time outside work, fun and family.
Are there other options like renting, staying in your current home, or waiting, that look better?
– Most rental options in this current market are more expensive that what your monthly mortgage cost would be. We can help you assess those options. There is also a great app on Trulia that can be found here: http://www.trulia.com/rent_vs_buy/
Do you anticipate an increase in the cost of buying a home in the near future (i.e. interest rates rising)?
Is your current property creating personal or financial issues for you?
– Could your money be used elsewhere to exponentially improve your life and finances for the future?
Selling in 2015:
Have you outgrown your current property?
Are you looking to improve the location, quality and future prospects for where you live?
Do you feel your home is in great shape for another family to love it? If not, do you know what projects are ahead to make it ready?
Do you have an idea of what your options are for a new home? Do you feel a new home is possible for you within 3-6 months?
Do you believe you are able produce a large enough financial return to move toward selling in 2015?
Do you have a broker to help you assess the best strategy for your specific home, situation and buying needs?
– If you are considering and need help with this assessment, give us a call and we can work through the details.
Our focus is to be efficient and helpful when working with these serious decisions. Often we ask ourselves, how valuable is your time? If we feel we can greatly benefit your time spent, we will offer to help you as a broker. If the time isn’t right, or if we aren’t the right resource for you, we will help you find other options. Most of the all, we are here to listen and help. If you’ve completed the assessment and want to continue the conversation please contact us here.