If you are in the market to buy or sell a home, here are some questions worth pondering:
As a buyer:
1) How long will you stay in the house? If you plan to live there at least five years or longer, then right now is a great time to buy a house. The low rates combined with a reasonable increase in home values mean homes are a great buy now. Years later, you can sell at a responsible profit when you are ready to move.
2) Do you need a bigger house? This is especially important for young people who plan to have children o
r already have children. You need enough room for the kids. It’s also an issue for folks who may be looking at caring for elderly parents.
3) Why do you want a house? If you already have one, what will you do with another one? Buying a house and turning it into rental property does bring in a regular income. With a decent down payment, the return on investment could be worthwhile. But you need to think about becoming a landlord. Investopedia has an excellent article The Complete Guide to Becoming a Landlord.
As a Seller
If you are selling, the main question to ask is, why are you selling? Here are the three points you should consider.
1) Are you moving to another community too far for a commute? If so, yes, sell your house or consider renting it.
2) Do you need to downsize? If your children are out of school and supporting themselves, you may not need all that space. There’s a family looking for the number of bedrooms you have, and they are ready to buy. They just need to find your home and our Hamilton Realty Group team can help!
3) Is it time to take out your equity? If you are retired and are interested in low-maintenance living, consider selling and buying something that fits your current needs. Take the profit and invest it or do something you’ve always wanted to do.
Selling and buying a house in coastal North Carolina has unique considerations. We can help with all the details. Call Hamilton Realty Group today at 910.218.1300.
