Are you considering selling your house but feeling overwhelmed by all the decisions you need to make? From choosing an agent to deciding where to move next, the process can be complicated. However, delaying your decision can have costly consequences. If you’re selling in Houston, here are four reasons why waiting to sell your house might be a mistake.
Houses are in Demand
Don’t wait to sell your house in Houston – you could miss out on potential buyers and money. With mortgage rates at an all-time low, now is the perfect time to list your property. Plus, with the economic shutdown caused by coronavirus, there may soon be a surplus of houses on the market, leading to decreased demand. However, at present, there are still plenty of eager buyers looking to invest in real estate. Many investors have pulled their funds from the volatile stock market and are seeking alternative investment options, such as real estate. Act now before these buyers move on to other opportunities.
Less Competition
Get ahead of the competition by selling your house in Houston now instead of waiting for the market to plummet. Don’t miss out on potential buyers who will have an easier time finding your house before the inevitable flood of sellers hits. Ensure that your house is ready for viewing by upgrading its curb appeal and making any necessary improvements, but be prepared to accept a lower offer if needed to secure a buyer’s interest in a crowded market. With the growing interest in home improvement shows and families seeking to add their personal touch to their homes, offering a lower price can attract buyers willing to invest sweat equity. Buyers are increasingly eager to purchase homes that they can customize to make their own. Don’t miss out on this opportunity to sell your home quickly and at a reasonable price. Take advantage of the current seller’s market and make your move before it’s too late.
Prices Dropping
Waiting too long to sell your house in Houston could cost you a lot of money. As the housing market trends downward, so does the average sales price for comparable properties. This means you may have to accept a lower price for your house than you were expecting. If you wait until the market is saturated with homes for sale, buyers have more power and can make lower offers. This can lead desperate sellers to accept even lower offers, further driving down housing prices. Don’t miss out on potential capital gain by waiting too long to sell your house.
Extra Fees
Property taxes and homeowners association fees increase the longer you own a property. Annual taxes and fees are pro-rated based on the number of days the property is under your ownership. You will only receive credit for the portion of the year that you will not possess the property. Similarly, the refund for homeowners association fees is based only on the days you do not own the property. However, these pro-rations correspond to the payment due dates. Taxes are typically due at the end of the year, while homeowners association fees are assessed at a different point during the year.