So, is selling your home worth it? The answer to this question will rest on your personal preference. Also if you’re ready to move on with your home. On the one side, selling your house in this current market will reap a healthy benefit.
On the other hand, however, there’s still a bit of time to think about this. We’re currently in one of the hottest seller’s markets in the US and, more specifically, in Florida.
The market will stay this way and doesn’t seem to be in a bubble. The mortgage delinquency rates have plummeted to an all-time low in the area, with Florida having only a 0.7% delinquency rate. That means people are paying their bills, and we’re not having a repeat of what happened nearly 15 years ago.
You’ve also got more than ever, people, to look to escape those four seasons of weather. While sticking with that one season of weather by the beach in Daytona or Clearwater. Maybe they want to be close by the entertainment whenever they want to and are in the transition of buying a home for the first time in Orlando.
Either way, if you’re asking yourself, “Is selling your home worth it?” The answer is this is one of the best times. Also, those that are looking to buy your home are more educated in the real estate market. They’re coming with their homebuying checklists and their customized guide to buying a house. So they’re taking each one of the necessary steps and precautions with their first steps to buying a house.
How is selling your home worth it?
It’s an overall healthy market, and no actual red flags are coming up. What you might want to consider, though, is the current situation. Sure it’s great to wait and sell it to someone who’s at their first steps to buying a house. However, there are also other things to consider.
For example, the higher value in homes has led to unprecedented increases in rent. Places like Orlando and Tampa have seen upwards of 35% and 14% increases respectively of what rents are possible to be pulling in. Yet rental prices have been flat for a while in this market, and being a landlord can lead to a particular headache of its own.
You’re better off taking advantage of this market opportunity and cashing in. Take a look at your timeframe, and maybe even consider early retirement or a break from the constant rat race. This is because these home valuations are so high that they make it affordable to pay those hefty selling costs.
Keep in mind the cost of selling your home can sometimes be nearly 15%, but there are several ways to mitigate that. The two most prominent methods are avoiding realtor fees, on average 5% in Florida (even if you can negotiate it down), and accepting all-cash offers.
With these offers, you can negate some additional fees such as the cost to repair some items and the incalculable cost of saving time to sell your home and striking while that housing market iron is hot.