When Should I Sell My House?  

Chadd McCulley

by Chadd McCulley

As a Realtor in Middle Tennessee the most common question I get asked is, if I sell my home where will I buy? This is where you need to ask yourself the bigger question  – “why are you selling?”  Are you downsizing or upsizing?  Is your job relocating you?  Do you hate the commute to work, can’t afford your current mortgage, your property taxes went up?

Even though the comps in the area might sound appealing to sell, in most cases if you stay in the same area, it will be a wash. Meaning you might get more when you sell, but you will pay more when you buy. This would be the natural eb and flo of the real estate market. When the market is slower, you might have more luck finding your dream home, but your home might sit on the market a little longer than if the market was piping hot.

A couple factors worth looking at – 

If the real estate market is slow, could your house sell faster than the house you are interested in purchasing? 

Maybe your house is renovated and in Shape to Sell, and the house you are interested in has been sitting on the market and need some updating. That’s not a bad time to list your house, if you can sell your house for a premium and get a deal on the new house. 

If obtaining a mortgage – what are the current interest rates? 

Just for round numbers, if your current mortgage is $2000 a month and your interest rate is 3%, selling might not sound as appealing if you find out that even though you are putting down more money on your purchase, your mortgage payment is staying the same because of a higher interest rate. 

Will your mortgage payment with property taxes and insurance be the same, higher, or lower? 

So, if you are wondering if you should sell your home, get clarity on the reason why you would sell and then ask a real estate professional to help you with that process. If you are located in Middle Tennessee and would like more information feel free to reach out to me via the contact form below.

When Should I Sell My House?  

Learn more about Realtor Chadd McCulley at ChaddMcCulley.com

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Published by silverpointeproperties

SilverPointe Properties - Business Professionals with a Passion for Real Estate. Realtors serving Middle Tennessee.

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