Selling your Albuquerque home in 2022 has plenty of benefits. Market conditions continue to favor sellers, cash offers are at an all-time high, and property values continue to rise steadily.
However, selling a house quickly will not be easy for everyone. Additionally, listing a house for sale isn’t as easy as putting together a listing and waiting for buyers to notice.
Before you sell your home, what should you consider? Here’s what you need to know.
Here are five factors to consider before selling a house.
1. How Much Money You Stand to “Pocket”
Do you know how much money you’ll need to pay off your mortgage? Do you know what your transfer taxes, agent commission rates, and closing costs will be?
You shouldn’t sell if you’re not going to break even. In an ideal scenario, you would want to “pocket” enough money so that you can set yourself up well in your next living situation.
2. How Fast You Want to Sell Your Home
In a seller’s market, sales can be quick, but bidding wars and negotiations can last for months. Would you like to sell in a week or can you afford to sit on your vacant listing for several months? A fast sale will also have an impact on things like your asking price, which needs to be on the lower end.
3. Where You’ll Live Next
Where do you want to live next? What is the impact of the seller’s market on you as a buyer, rather than just as a home owner? Be sure that you know what kind of housing you can afford before you put your house on the market.
4. What Condition Your House Is In
Sellers often choose to upgrade their properties before listing them in order to increase their property value. If you want your time to be worth it, you should choose the upgrades with the highest ROI. The alternative is to sell as-is, which puts your house on the market faster but comes with its own challenges.
5. Whether or Not to Work With an Agent
There are pros and cons to working with a real estate agent. An agent is going to get your listing the attention it needs but is also going to charge a commission. If you’re going the traditional route, we recommend working with an agent even if it does cut into the money you’ll walk away with. Sandi Pressley and her team have decades of experience selling homes in Albuquerque. They have a proven track record of being the top agents in New Mexico.
Now can seem like the perfect time to sell your home, but that doesn’t mean that it will work in every seller’s favor. Make sure you consider these five factors before deciding when and how to sell.
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Make sure to join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Contact us today to help you buy or sell your next home in Albuquerque.
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