Prepare and Plan - Selling a home is a major undertaking — before taking
the plunge, make sure that you've thought it through and are ready to proceed.
Deciding to Sell
Consider your motivations for selling to help determine if you are truly ready to part with your
current home.
Are You Ready to Leave Your Current Home?
Moving is a tiring and stressful experience, and leaving your home can be emotionally difficult
as well - especially if you've lived there for many years. Make sure you're really ready to
go before you put the property on the market.
Moving Up
Probably the most common reasons for selling a home are the need for more space and the desire
to move up to more luxurious property. Many homeowners find that increased income - coupled
with appreciation in their current houses - makes moving up a feasible option. This strategy
has proven to be a successful long-term wealth builder as housing prices have generally continued
to rise over time.
Financial and Tax Implications of Selling
A home is a major investment, and the decision to sell is one fraught with financial implications.
Is now a good time to sell? Is it a good time to buy another home? Have you considered the
tax consequences of the sale?
Selling for Financial Reasons
Many people sell for financial reasons. A reduction in income, increased expenses (e.g. college
tuitions), and the need to save or invest more to meet goals are common reasons for moving
to a smaller home.
Remodeling vs. Selling
Even if you want more space or more luxurious appointments, there is an option to selling
- you can remodel your existing house. Review our remodeling
checklist to help determine if this is your best option.
Selling for Retirees
Retirement is a great time to sell the old family home and purchase something smaller and
more convenient. For many people, home equity is a major portion of overall savings and net
worth. Reinvesting the proceeds from the sale of an appreciated home can significantly improve
your post-retirement budget - and help support an active and enjoyable lifestyle.
Sell First or Buy First?
This is one of the biggest questions faced by homeowners - and it's not an easy one to answer.
Review our tips for determining
which way is best for you.
Rent Out Your Old Home Instead of Selling?
If you're moving but are reluctant to sell your old home you may have another option - renting.
By renting you may be able to sustain the costs of both your old and new houses. Being a landlord
is no picnic, however. Check out our rental guide
to get an idea of what is involved before going down this road.
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