Happy Wednesday! Can you believe January is almost over? How are those resolutions going? I’m going to be honest, I’m winning some and losing some. But don’t be too hard on yourself. Most folks make resolutions based off what they think they want, not what they truly want. If this applies to you and your current home i.e. you’ve resolved that you’re going to most definitely clean out the garage for the 50th time or you’re “fixing to” go up to the second floor you don’t use anymore and give away bedroom furniture, maybe it’s time to put your house up for sale and truly find the one of your dreams.
After all, you’ve been promising yourself that bathroom renovation and you’ve been telling your spouse one day they’ll get that addition built off the back. It’s been 10 years since you’ve moved. You’ve been saying that for 9 of the years. And your house is “okay” but it never really felt like home to you.
Did you know you are not alone? There are plenty of potential sellers out there that are staying in their houses longer. The average homeowner will stay in a home around 10 years between moves, which has popped drastically from 6 years since 2006. The main factor is because there were so many homeowners that were caught up in the housing crisis and there is a common fear I am hearing from both buyers and sellers: I’m scared that I’ll get stuck again. But even so, now more than ever, the public agrees home ownership is the way to build wealth. So why are there so few cashing in on their investment?
The beliefs of the consumers are what drives the economy and the housing market. Just like up until recently, the buyers were waiting on the interest rates to hit rock bottom before they acted, it seems that sellers are waiting until they can A. Get the most bang for their buck or B. Stay in long enough to have enough equity to sell at a good price and get a good deal on the next house.
For the sellers that are waiting it out before they sell their current home and move on to the next one, though, they are in the middle of a storm of their own creation. The law of economics states that when demand is high and the supply is low, prices will rise. There is definitely some relief coming with the new construction that is popping up around the York and Lancaster areas as well as Charlotte, but builders can only do so much to fill the demand.
Maybe you’ve been toying with the idea for years and it’s just now occurring to you that you aren’t as happy in your current home as you thought.
Ask Yourself: Does My Home Really Fit My Needs?
Maybe you bought or built the huge family home 30 years ago and the kids are all grown and it’s just you and your spouse sharing 3000+ square feet. Or maybe you bought your “starter home” 10 years ago when you were single and now you have a husband and two kids sharing 1200 square feet and it’s starting to feel tight but you made do with IKEA built ins and storage solutions. But you feel the itch, either way. Ding Ding Ding! Your house doesn’t fit you anymore. It’s time to move.
Ask Yourself: What Is Holding Me Back?
Sit down and write down all the things you love about your house and then all the things you wish were better. Really dig in deep. Take a look at the list and discern if there is anything you can do to make the things you wish were better…well…better. Then look at the things you love. If it comes down to the things you wish were better making a stronger case, but you’re still looking at the things you love about the house, ask yourself what is really holding you back from selling right now and getting the home you really want.
Maybe it’s that the house is dated. Maybe it’s you don’t think it will sell for much. Or maybe there is a massive hole in the backyard that you haven’t filled for years. Whatever it is, pin point exactly what is holding you back and then call a professional.
Ask Yourself: What Do I Do Now?
Who is most qualified to help you with the problem? Is the house dated? Call a Realtor® or an interior designer to see what you need to do to give you some updating tips. Don’t think that your house will sell for much? Call a Realtor® or an appraiser to help you figure out a price. Massive hole in the back yard? Yep! Go on ahead and call a Realtor®. Chance’s are they know a good landscaper.
And the best part? Realtors®, at least this Realtor®, will do free consultations for you without any obligation or pushy salesmanship.
So, what are you waiting for? Call me today!
Allen Tate Company
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