Who said relationships can only be between two like-minded people or two polar opposites? Deep and nurturing relationships exist between a person and his or her house. It could be an apartment, a condo or a villa. The phrase ‘home is where the heart is’ did not pop out of nowhere. It means what it says. But what happens when your heart no longer lies in that home? Does that mean you get to ‘dump’ that lovely home and look for another one? If yes, then why not do it on the most meaningful loving day of the year – Valentine’s Day.
Dumping a house may not be the same as dumping a person, but the reasons that lead to the break-up are the same. If you are faced with one or more of the following reasons, it is about time you dump your home.
There are More Fish in the Sea:
Or there are more houses on the market, for cheaper. Home prices have finally started to stabilize and the price per square foot is rebounding. In January 2006 the average sales price for a home in Utah was $240,000, while in December 2013 it is $242, 524, according to UAR statistics. This means that on an average, prices are back to what they were 6-7 years back, which is a very positive sign. This is the best news for sellers and buyers alike. Sellers are finally getting the price at which they might have purchased their house and buyers are getting the same price as what it was before recession and price-hike, thus making it possible for all kinds of buyers to purchase property.
Ride the Wave:
There is no better time than this to sell your home and ride the appreciation wave. Supply is shrinking, which means the market needs more property, as there are more buyers than sellers. So, if you are looking to move up, you will want to try to lock in today’s pricing, which is almost historically low.
Over the last several years, most homeowners who sold their homes did not have to compete with new construction projects, due to the economic crisis across the world. But with the turn of an era comes the turn of a phenomenon. The economic crisis has finally started to ease up, and more construction companies are investing in newer projects. These new homes will again become a competition to those existing homeowners who are yet in their initial planning stages to sell their homes. If you want to avoid being run down by large corporate construction businesses whose homes will be in the market starting late next year, you might want to buckle up and put your home on the market at the earliest possible.
Although interest rates are at their lowest right now, there is no saying when it might increase. Interest rates for a 30-year mortgage have softened recently, but most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by this time next year. So, whether you are trying to move up or have to move down in your housing choices, your housing expense will be more a year from now if a mortgage is necessary to buy the next home.
Selling during winter means less competition from the market. Selling at the height of Spring or autumn means you will need to work really hard to stand out from the crowd of home-sellers and make all the repairs before you present your house to the market. There are fewer properties around the beginning and end of the year, which means that motivated buyers will have fewer choices and you will always have the upper hand to negotiate prices and conditions.
Dumping your house may not be an easy decision, but taking care of yourself is a crucial decision that you need to make and make it fast.