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Selling a home is a major undertaking - before taking the plunge, make sure that
you've thought it through and are ready to proceed.
Deciding to Sell
Consider your motivations for selling to help determine if you are truly ready
to part with your current home.
Are You Ready to Leave Your Current Home?
Moving is a tiring and stressful experience, and leaving your home can be emotionally
difficult as well - especially if you've lived there for many years. Make sure you're
really ready to go before you put the property on the market.
Moving Up
Probably the most common reasons for selling a home are the need for more space
and the desire to move up to more luxurious property. Many homeowners find that
increased income - coupled with appreciation in their current houses - makes moving
up a feasible option. This strategy has proven to be a successful long-term wealth
builder as housing prices have generally continued to rise over time.
Financial and Tax Implications of Selling
A home is a major investment, and the decision to sell is one fraught with financial
implications. Is now a good time to sell? Is it a good time to buy another home?
Have you considered the tax consequences of the sale?
Selling for Financial Reasons
Many people sell for financial reasons. A reduction in income, increased
expenses (e.g. college tuitions), and the need to save or invest more to meet
goals are common reasons for moving to a smaller home.
Remodeling vs. Selling
Even if you want more space or more luxurious appointments, there is an option
to selling - you can remodel your existing house. Review our remodeling checklist
to help determine if this is your best option.
Selling for Retirees
Retirement is a great time to sell the old family home and purchase something
smaller and more convenient. For many people, home equity is a major portion of
overall savings and net worth. Reinvesting the proceeds from the sale of an
appreciated home can significantly improve your post-retirement budget - and
help support an active and enjoyable lifestyle.
Sell First or Buy First?
This is one of the biggest questions faced by homeowners - and it's not an easy
one to answer. Review our tips for determining which way is best for you.
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