Did you know that homeowners are now living in their homes 50 percent longer than they did in 2007? The National Association of Realtors says the average U.S. homeowner sells a home once every nine years. Previously, it was more frequently: once every six years.
This is one of the reasons most sellers today use a real agent: 88% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69% since 2001.
One thing to keep in mind when thinking of your timeframe to sell, how much equity will you have in your home? A lot of things effect how quickly you gain equity… market conditions, down payment when you purchased, how long you have lived in your home, and any extra you pay down on your principal each month are a few factors.
When you meet with your Realtor to talk about selling, ask them to go over a net proceeds sheet with you. This will breakdown all of the costs that are involved in selling a home. Some of these are things you wouldn’t typically think of such as tax stamps and title policy costs. Once you know your estimated costs, you can weigh that against your equity, and you’ll be able to estimate your net gain from the sale.
Thinking of selling but not sure if it makes sense financially? I’d love to sit down and talk with you about the costs involved and what you can expect to walk away with.