5 Tips to Help You Decide If It’s Time For a Move
This is the time of year when people start thinking about moving. Maybe your family is growing and your need more space, or the kids have left home and you need to downsize. For most, considering a move involves selling your current home and finding the right new home, and it can be daunting! So take a deep breathe, relax, and consider the following tips to get you started.
- Write down your family’s top 3 reasons for wanting to move. Aside from a job relocation, what are the life-quality issues that tug at you? Space, schools, HOA’s, taxes, commute, health, and neighborhood safety are often are just some of the issues that motivate people to move.
- Assess your home’s equity. A note of caution here: online home valuation sites are often grossly inaccurate, especially in Texas which is a non-disclosure state (meaning the tax sites don’t have to publish sold statistics). Ask your real estate agent for a comparative analysis of the most recent sold properties in your neighborhood so you have a true snapshot of your local market.
- Assess your home’s condition. Are there any home improvement projects or delayed maintenance issues you have been putting off? Get estimates for completing those repairs or updates so you know the true cost of selling your home.
- Decide what are the 3 most important things you want in a new home. This may involve some compromise, as each member of the family may have a different perspective on what is most important. See where your wish list intersects, and that will become your focus for your new home search.
- Research home prices based on your most important 3 criteria. Home prices in the Austin area are fluctuating. Based on the equity you have in your home, the cost of improvements to get the best price for your current home, and home prices for the type of property you want to buy, is now the best time to get ready for a move?
Your agent can also provide a Net Proceeds Estimate that will show you how much you will walk away with in your pocket when you sell your home. He or she can also help you plan every step of your move. If you’ve decided this is the year for a new home, now is the time to start!