Deciding to Sell

Deciding to Sell

Selling a home is a major undertaking - before taking the
plunge, make sure that you've thought it through and are
ready to proceed.

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.

Rent Out Your Old Home Instead of Selling?

If you're moving but are reluctant to sell your old home you
may have another option - renting. By renting you may be
able to sustain the costs of both your old and new houses.
Being a landlord is no picnic, however. Check out our rental
guide to get an idea of what is involved before going down
this road.