If you are leaving Vermont, we will be sad to see you go. Perhaps you are just moving down the road after finding that next perfect home in the wondrous Green Mountain State (we will be glad you decided to stay). Perhaps the appraised value of your home skyrocketed and you’re hoping to cash in on a once-in-a-lifetime opportunity. Or maybe you need to modify your housing to better accommodate your evolving lifestyle. Here are some signs that you should sell your home soon in more detail.
Show Me the Money
$250,000: If you’ve lived in your home for 2-5 years and you stand to profit up to $250,000 by selling, the money you gain is tax-free. That figure jumps up to $500,000 when filing jointly as outlined by the IRS. In a strong seller’s market where your home value has increased significantly you could stand to make a very tidy little profit. Follow the money. It might be time to sell when appraisals skyrocket. Request a free home valuation!
Low Mortgage Rates: It might be a great time to sell your home and purchase a new one when mortgage rates are low. You will save money financing your new home (provided you can find one). In a seller’s market with low rates, there is a lot of competition in finding a new home. Nevertheless, it might prove profitable to sell and find a short-term housing solution while looking for your perfect home. It might be time to sell when the mortgage rates are low.
A Growing Family / Upsizing: Your family may simply have outgrown your current home. You may need a larger home with 5 or more bedrooms to accommodate a growing family, or you might be starting a family and need to relocate to take advantage of living in a neighborhood within an excellent school district. It might be time to sell when your family is growing.
Downsizing: You may find yourself in a large home as an empty-nester. If your children have grown and moved away you may no longer need 5 bedrooms, 3 bathrooms, and multiple acres of land to maintain. It might be time to sell and buy a smaller home when the children are grown.
Less Maintenance: You might be tired of all the responsibilities and maintenance that come with home ownership. Selling your single family home and moving to a condominium might just be the ticket. You can enjoy the pleasures of the shared landscaping without lifting a hand to trim the bushes or fill up the lawnmower. It might be time to sell if you want less maintenance
More Maintenance: Other folks might enjoy the pleasures of outdoor maintenance and want to move to a glorious country home with over 100 acres of land in the heart of Vermont. Some might delight in a once-in-a-lifetime opportunity to purchase and run a goat farm and begin a new country living dream. It might be time to sell if you want a bigger yard or the wonderful pleasure of working the land.
Greener pastures mean something different for everyone. Whether you are looking for a home with over 100 acres and a larger lawn to mow, looking to cash in on a high appraisal, or simply looking to lower your monthly burden of responsibility the real estate agents at Heney Realtors are here to help. We look forward to working with you and serving all of your real estate needs in Central Vermont. Contact us today!