Having a place to call home is almost everyone’s dream. However, personal and financial reasons may drive you towards selling your home.
Whether you are selling your primary residence or investment property, reaching the final decision to list the house and accept offers is a huge undertaking.
Depending on your circumstances, selling your home may help you reduce expenses, make a profit and reduce the stress of homeownership.
So, we’ve rounded up the three reasons why you should sell your house in Phoenix.
1. You Are Trading Up
Most people tend to outgrow their first homes. Financial growth is one of the main reasons homeowners opt to sell their first house. With economic upgrades, you may want to move into your dream home, which would mean selling the current property. A change in relationship status is another good reason to sell a home, and perhaps buy a new one that can accommodate the growing family size.
Similarly, the need for other facilities within the house may contribute to selling your present home. This is especially the case when renovation or upgrades isn’t an option due to space or structural constraints. Over the years, homeowners have been upgrading to homes with more indoor and outdoor spaces. Front yards, backyards, swimming pools, and even gardens are becoming the key priorities for many homeowners.
2. You Want to Take Advantage of High Housing Prices
The best time to sell your house, whether a residential or investment property, is when the housing market is booming in your area. During such times, the demand for homes is high, and consequently, the house prices increase. This presents an excellent opportunity to sell your home at a decent profit.
If you are selling your primary residence, you can opt to rent in the meantime before making a move to buy another house. This way, you’ll have enough time to scout for better offers and even wait for the housing prices to subside.
3. You Inherited the Property
Most people inheriting a house usually have another home. And since an inherited property often requires renovation or remodeling before anyone can move in, this can be another hassle in itself. Adding another home to yourself also means more capital gains, maintenance fees, and homeowner’s fees. Renting the home might be an option, but only if you have the money to renovate and maintain the property in the long run.
The location of the inherited home may not favor your needs. Keeping and maintaining a second home that is far from your current location is demanding. The size of the house may also be too large or too small for you and your family, or the design and sense of style may not be the one you would consider living in. All these factors will contribute to you selling the inherited house.
To avoid paying capital gains on the inherited property, you want to sell the house as quickly as possible. Your best bet may be to sell the property directly to a home buying company or investors ready to buy the house as-is, preferably in cash. This allows you to sell your house fast with no realtor fees, no commissions, or repairs.
There are several reasons you would want to sell your home, and the above list of reasons isn’t in any way exhaustive. Regardless of your reasons for selling the property, you want the process to be fast, smooth, and convenient. Depending on how fast you want to sell the property, the value of the home, and the cost of renovation and repairs, selling your house for cash may be the ideal option.