Are you debating whether to sell your home?
You know your current home doesn’t fit in with your plans for retirement. You want less maintenance, you don’t use half the “stuff” crammed into your home, and you simply want more time for travel, friends and fun.
But is it the right time to sell? Should you really stake the “for sale” sign in front of the home where you raised your children?
It’s a big decision and definitely not an easy one. While there is emotional attachment, the home may not suit your current lifestyle and may begin to depreciate the longer you wait. Take into consideration factors that can drive down the value of a home, especially one that has been “well-lived.”
Top factors that can push home value down:
- Declining condition
- Outdated design and floor plan
- Minimal modernization of appliances
- Lower energy efficiency compared to newer homes
There are property improvements you can make to help your home appreciate in value before you make a move.
It’s best to be the moderate home on the block, rather than the most or least expensive home. Consider the value of homes in the neighborhood and plan upgrades that will fit in with the style and feel of the community so your home remains competitive in the market.
Top factors that can push home value up:
- Update the kitchen
- Modernize appliances
- Buff up the bathrooms
- Hire a handyman to fix any broken plumbing, faulty wiring, etc.
- Consider curb appeal - it makes the first impression