Thanks so much for taking the first step in preparing for your next real estate transaction! I’m honored to have the opportunity to be your advocate and advisor.
Navigating the shifting housing market and finding the best opportunities to buy and sell requires an understanding of your personal values, priorities, financial status, and short- and long-term goals. There's no one-size-fits-all strategy that will work for everyone.
I hope the information below helps to get your ideas flowing! If you are ready to start planning your next move, book your consultation today!
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Home Selling System Part 1: Planning to Achieve your Personal & Financial Goals
Let your Priorities Guide you, not the News Headlines!
Your priorities should inform every decision you make in the home selling and buying process. If you aren’t clear on what is most important to you, take the time to outline your priorities before continuing with any other research or preparations. This will save you a lot of time and energy, and it will ensure that your actions lead you towards achieving your goals.
Are you on the search for your next primary home? Envision what your ideal property and lifestyle would look like in as much detail as possible.
Write down all of your needs and wants and put in order of importance.
If you’re looking to buy or sell an investment property, then you’ll want to set aside your personal preferences and look at things from an analytical point of view. What is your ideal scenario?
Maybe you'd like to do all of the above! Consider the potential return-on-investment of each deal, and be sure to account for all of the expenses and risks involved.
Create a Realistic Timeline
From buyers getting "cold feet" to last-minute repairs, there are many unexpected issues that can arise in a real estate transaction. While we can't predict the future, what we can do is set a realistic timeline so that we can adapt in the event of unforeseen circumstances.
Do you need time to renovate your home to get it ready to sell? The best service professionals can sometimes be booked weeks in advance. If you are looking to replace appliances, the lead time for delivery can be several months in some cases!
If you are planning a move or to purchase your next investment property, you'll also want to give yourself sufficient time to research your next destination and buying opportunities, so that you can be confident in making your decisions.
Estimate your timeline and add 50% to that to give yourself a realistic cushion.
Understand the Market and where your Opportunities are
Having an understanding of the local and national housing trends will allow you to have a firm grasp on where the market is headed, and what the value of your home may be when you are ready to sell.
Are you planning to sell during a "peak" buying season, or during a slower time of year? Is there more demand for your current property or the replacement property? Maybe you don't need to sell at all, and can get cash flow by renting your current home. These will affect your strategy when it comes to price setting and negotiating.
Take the time to analyze all of your opportunities and try to never make rushed decisions. Be conservative when estimating potential expenses (moving, repairs, buying and selling fees, taxes, etc.) and always have a contingency plan if things don't go your way.
Wondering what your home could sell for in this market?
I combine data analysis with real-world experience to formulate an accurate estimate of your home's value.