Is It The Right Time To Sell Your Home?

By Fran Campbell - May 28, 2015

Selling your house at the Lake of the Ozarks and finding a new place to call home is a big decision. Moving is usually a major undertaking, and timing the closings of the home you're selling and the home you're buying requires careful planning and negotiation. Because there is so much involved, you will want to be confident that you are truly ready to sell your home before you actually begin the process. Asking yourself these questions first can be a great way to ensure that you are ready to sell your Lake of the Ozarks home.

What Is Going On In Your Life Right Now?
Getting a home ready to sell is a major undertaking. You have to clean the house from top to bottom, organize and de-clutter every room in the house, and constantly keep up with daily chores and other housework to keep the house in prime showing condition at all times. Once you accept an offer, you still have to work with your Lake of the Ozarks real estate agent and the buyers to negotiate the sale and make sure everything moves along smoothly.

If you have other major events going on in your life right now (making room for a new baby, sending a child off to college, going through a career change, etc), you may not have the time and/or energy to devote to selling your home. If you don't have anything unusual going on in your life right now, on the other hand, then the time may be right to get your home ready to sell!

How Much Home Equity Do You Currently Have?
Buying and selling homes is twofold; it involves finding the right place for you and your family to live, but it also involves major financial transactions. Before you decide to list your home, it's important to carefully consider the financial aspects of the move. How much equity do you currently have in your home?

Say you purchased your current home for $250,000, and that you still owe $150,000 on your mortgage loan. If your home is still worth $250,000, then you have $100,000 in equity that you will be able to cash in on when you sell. That sum would certainly be a major advantage to selling your home! If, on the other hand, the value of your home has dropped to $200,000, then you only have $50,000 of home equity. If your home value has dropped all the way to $150,000, then you have $0 of home equity. You can sell your home at any time, but slim and/or nonexistent profits may give you reason to hold off on selling your home. Before you decide to list your home, ask your real estate agent to provide you with a free property value analysis to help you determine how much your home is currently worth.

What Are Your Reasons For Selling?
There are many, many different reasons why people choose to sell their homes. Some people move for work, some people move because they need to upgrade and/or downsize their homes, and some people move because they simply wish to change their surroundings.

There is no right or wrong reason for moving, but it's important to be honest with yourself about your motives before you begin the process. By fully understanding why you wish to move, you will be better equipped to find a new home at the perfectly meets your needs.

Fran Campbell Team Can Help!
Choosing to list your home is a big decision, but (if done correctly) it can be a very rewarding - and lucrative - move. If you have questions about whether or not now is the right time to sell your home at the Lake of the Ozarks, don't hesitate to reach out to Fran Campbell Team! We would be happy to help you weigh the pros and cons and make the decision that is right for you.

Contact the Fran Campbell Team to schedule a showing!