Buying or Selling a 55+ in Delray Beach, Boynton Beach or Palm Beach County
First Rule of Real Estate. The Second Rule of Real Estate
is Location, Location, Location is Price, Price, Price
Each Real Estate Market Area is unique. Prices go up and prices go down. National averages that are featured in the news are not applicable to all market areas and price alone should not the determining factor as to making YOUR decision.
That being said, you may be confused if you’re thinking…
Is it the right time to buy?
Is it the right time to sell?
Is renting the right solution?
Buyer and seller have individual motivations to buy or sell. Some reasons may include:
Being Transferred, Relocating, Upsize or Downsize, Divorce,
Lifestyle Change, Home Under Water, Buying for Investment
When selling, determine your motivation and stay focused on it. Often people lose sight of their goal. Price and your motivation should be the driving factors.
The two extremes in selling movitation are
Getting the highest price possible for your home
Selling your home as quickly as possible
Getting the highest price possible generally takes longer. On the other hand, pricing your home to sell quickly means pricing it right or perhaps a little below right. It’s important to price your home in a price range that buyers will be attracted to. For example, the difference in pricing your home at $301,000 or $299,000 is huge. Buyers looking for homes up to $300,000 will never see the one priced at $301,000.
When selling a home you want to walk away with as much as possible, you don’t want to have to come to the closing table with money. If you really want to sell, some considerations should be:
Do you have someplace to go when it sells?
Do you need cash from the sale to purchase?
Do you simply want to get out and move on?
When purchasing a home, nobody wants to make a bad investment. If you’re looking to purchase a home that you plan to live in for at least 6 years or more, some considerations should be:
Do You Love The Home?
Location? (shopping, schools, entertainment, etc)
Is it priced right (even if it’s somewhat high)?
Consider closing costs
Can you afford it?
How badly do you want it?
How much work does it need?
Some people are value motivated and others emotionally motivated. I’ve seen people pay over appraised value and are delighted because they love their home. I’ve seen others walk away from a home they loved because of price. Many don’t find another home that they love as much.
Real Estate is probably the largest investment that most people will make. Just as each real estate market is unique, so are the factors that control the buying or selling decision for each individual. Whether buying or selling, balance the investment, motivation and finances. If it’s right, it’s right, otherwise it’s not. Only you know.
Click to know more about many of the Over 55 Communities in Palm Beach County.
Contact Candace or Joel (The Harelik Team)
to consult with any of your Real Estate Needs.