When buying a home, most people expect their property to maintain (or hopefully grow) its value over time. Though that’s been the case in most places in recent decades, it’s not a guarantee. There are some factors you can control when it comes to your home’s value, but others can be more difficult to predict. If you’re searching for your next home or recently bought one, here are some factors that could impact your home’s value.
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Ever wonder whether or not it’s the right time to buy…or sell a home?
While nobody has a “crystal ball” (don’t let those property investing gurus tell you differently), you can get close when you’re clear on the basics of what impacts your local housing market.
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Your home is more than bricks and mortar; it’s a living, breathing storehouse of memories and emotions.
It’s where your now ten-year-old took his first steps, where you unearthed your passion for interior design, and where your teenager nervously introduced his prom date.
It would be unusual for you not to feel a touch of anxiety when it sinks in that, at some point, you will no longer walk through the doors of the place you’ve called home for years.
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Remember when you first bought your home? How excited you were to move in and make it yours? Those are memories you’ll never forget.
Whether you’re moving to a new city, upsizing, downsizing, or simply ready for a change, keep those feelings in mind as you prepare your home for sale, because you want prospective buyers to feel the same way when they look at your house.
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Buying and selling a home at the same time can be complicated, and it comes with tricky timing challenges. Unless you have enough cash, raising the money for a down payment may be hard while your equity is still connected to your current home. Moreover, if you sell your home before buying, you may have nowhere to go after the sale closes.
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