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I’ve Owned My Home For A Few Years: Now What?

Somer Tinsley

As a devoted real estate professional I will make every effort to ensure your experience is as smooth and enjoyable as possible...

As a devoted real estate professional I will make every effort to ensure your experience is as smooth and enjoyable as possible...

Oct 8 5 minutes read

It's not news to anyone who plans to sell their home this year.

The real estate market in 2021 has been turned on its head by all the unusual events that have occurred. In several areas, the variances have favored sellers so far. Low inventory & interest percentages proceed to draw out buyers, leading to prompt sales. 

For sellers, though, the "new standard" of 2021 might be short-lived. What's more crucial to concentrate on isn't what has changed this year but in the prior years. Here's what to consider if you're contemplating selling your home after enjoying it for several years now:

The Time To Address Home Maintenance Is Now

The five-year point tends to be when essential maintenance problems pop up.

For example, if you haven’t touched your HVAC system in this period, it might already be due for replacement or significant repairs. Water heaters are another possible candidate for replacement, especially if significant changes to code requirements have been.

Several years of weather can also bring exterior dilemmas, notably for your roof and gutter systems. Inside, damage can be noticeable, especially for flooring. If you have wall-to-wall carpet, anticipate changing it out for a modern look. Paint shades — mainly beige hues and light neutrals — can often take on a yellowish tint that can look dingy. 

Prioritize projects according to your resources and the severity. A buyer can excuse less-than-perfect paint, but not a leaky roof or faulty AC system.

Your Home’s Value Has Changed

This is how the 2021 market comes into action.

You might be pleasantly shocked by the pricing tactics we implement since we have noticed an uptick in buyers and quick purchases. However, timing is everything: If mortgage rates rise, more homes hit the market, or a change in the economy occurs, prices can take a blow. 

While we all wish to have a crystal ball to see where the future housing market is directed, focus instead on what you can control to impact your home's value positively. No matter where the market goes, buyers will always be interested in a well-kept house and staged to flaunt its best characteristics. While you're addressing those mentioned above "five-year" issues, take the time to do a thorough decluttering, even rent a storage unit if needed, & ask us about a staging strategy.

Buyer’s Tastes Have Changed

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The Real Question: Are You Ready?

Purely looking at the numbers, five years is when you might notice that you have more equity in your home. The more equity you have, the less of an impact closing costs may have on your financial situation. 

However, the biggest indicator that you’re ready to sell goes beyond a calculation. Meaning: A lot can change in five years, especially when it comes to your life. You might have gotten married or divorced, had children or became an empty nester, or your job has changed in a way that your commute no longer matters. Regardless of how the world has changed or what may change, the bottom line is that your home needs to fit your needs. 

Let's Talk About You

If you're considering selling your home, or if you're just curious about what it might sell for, click below to schedule a call.

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