Should you Sell Your Home Or Should You Stay?

Should you Sell Your Home Or Should You Stay?
By: Bea Newhall

This is a question that many people ask themselves when making a decision whether to sell or stay in their home.

The first question you should be ask yourself is: Why are you selling your home?

Are you selling because of relocation, retirement, divorce, or death? Consult a local Realtor to give you a free Market Analysis of your home to give you an idea of value of your home. Once you have established a motive for moving, and consult with a local Realtor , refer to the following tips to help you make that all important decision:

1. How much equity will I have once I sell my home?

Depending on how long you have lived in your home and how much return you have made will determine how much MONEY you will have to buy a new home.

2. Do I want to use all of my equity?

This is a good question especially if you are planning on retiring soon. Always consult your CPA or Financial Planner as to what would be the best way for you to proceed.

3. Where do you want to go?

Do your research of the different areas where you would like to live. Some areas offer specific needs to singles, couples or retirees.

4. Where can you afford to move?

Affordability is the key to this question. Take a look at the possibilities by gathering information about where it is you can afford to live. Contacting Chambers of Commerce of cities is a good way to start.

5. What about schools for my kids?

Up rooting kids is going to be difficult. You would like your home to be in a good school district. THE Chamber of Commerce has information about schools. Once you have that information call the school and ask to speak to the PTA President. This person should know all the ins and outs of that particular school.

Remember this is a process and with every process there is an outcome. This can be a roller coaster ride but the right questions and the right resource professionals your process should go smoothly.