Each Real Estate Market is Unique. Prices go up and prices go down. National averages that are featured in the news are not applicable to all markets 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 Motivated
- Relocating Motivated
- Upsize or Downsize Not so Motivated
- Divorce Motivated if the time is right
- Curious about home value Not Motivated
- Lifestyle Change Not Motivated
- Home Under Water Possible Short Sale (Their tough)
- Buying for Investment Motivated if price is right
Determine your motivation and stay focused on it. Often people lose sight of their goal. Whether buying or selling, price and your motivation should be the driving factors.
From the beginning of time the ups and downs of the housing market have followed trends. Sometimes it’s a buyer’s market (prices go down) and sometimes it’s a seller’s market (prices go up). The trend over the long haul is that the real estate market has proven to be an excellent investment.
Selling a Home? Of course you want to walk away with as much as possible or 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 your next home?
- Do you simply want to get out and move on?
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?
- Is the location good? (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 to make it the way you want it?
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.