There are a number of reasons that you may think about selling your home: Your family has outgrown it and needs more space, you’re ready for a change of scenery, you’re thinking of expanding your family, you can’t afford the area you live anymore, and more. Whatever your reason is for thinking about saying sayonara to your current abode, consider this list of things that you need to know about selling your home before you commit to saying goodbye for good–
What the Market Value for Your Home Is
Unless you absolutely have to, you probably don’t want to sell your house unless you are able to make a profit on the sale, or at least break even. Before you commit to selling, you should do some market research for your area. You should also look at comparable homes in your neighborhood – i.e. similar square footage and number of rooms, built within a few years of one another, same school district, etc. – that have sold in the last 12 months. The good news is that if you currently live in Boston and are looking to sell, now may be the time – home prices, especially condo prices, have been consistently rising in the area.
Can You Get Your Money’s Worth Somewhere Else?
It’s not just about making sure that you can afford to sell your home without losing cash; it’s about making sure that you can also afford to purchase somewhere else. If you’re thinking about moving from the suburbs to the city, for example, or want a bigger home, can you afford it? While you may be able to sell for more than you paid right now, a booming real estate market means that purchasing something new will be more expensive than it was five years ago, too.
Do You Need to Do Any Repairs or Renovations?
If you want to get top dollar for your home, you may need to do some repair or renovations on your home. Outdated kitchens, bathrooms, appliances, and carpet make for hard-to-sell homes; updating these things may be worth it. However, make sure that before you renovate, you are confident that you will be able to make money on your renovation. If you spend $10,000 improving your home, but are only able to make an additional $7,000 in a sale, it may not be worth pursuing.
Do You Have a Trusted Lawyer on Your Side?
Massachusetts law requires that you be represented by a real estate closing lawyer. Working with a lawyer protects your best interests, and ensures that the process is legally sound. Your lawyer will review all contracts and documents associated with the sale, including things such as a HUD document and property conveyance.
At ClosingLawyer.Pro, we know that you have a lot of questions when selling your home. For a skilled lawyer whom you can trust to guide you through the home-selling process with competence, contact our law firm today. You can reach us by phone at 1-888-592-2265, or use our online form to write us a message today.