Can I Afford to Sell?My wife and I had our 3rd child this year so our 3 bedroom home is becoming cramped. Because of our mortgage, I’m not sure if we can afford to sell. How can we find out what we can get for our home?
The best way to get a good idea of what your home is worth is to meet with a real estate agent. A good agent will schedule a time with you at your house to review comparables which are simply properties similar to yours in location, condition, size and age which have sold recently. A meeting at your home gives her an opportunity to compare your home with these properties to intelligently price yours.
She will take some time to walk through your home with you to look at the interior features (you may or may not have) which attract buyers, such as granite counters, hardwood floors, large closets, garage space, and if your basement is finished and/or a walk out. She will also observe the location and views your home affords. Do you have privacy? Nice views? Traffic noise? She will ask about the age of the roof, heating/cooling system, and windows and if you’ve improved on the home by adding and/or finishing out space.
Pricing a home is not an exact science since conditions vary and no two homes are alike. Knowing this, she will do her best to find a few homes as similar as possible to yours, adjusting the price if necessary to accommodate differences.
It is important to meet with an agent who is familiar with the area and has a track record of success in selling in the neighborhood you live in. With her experience, she will generate an estimated seller’s cost sheet so you have the numbers you need to help you decide if you can afford to sell and move on.
If you have real estate questions, please contact me – Esther Prosser, Stoltzfus Realtors, esther@stoltzfus.com, 484-269-7153, PO Box 20, Elverson, PA 19520.
