Considering Your Carrying Cost When Selling Your Home
BY KAPINA LANSDALE
Every Seller’s goal is to sell their property for the most money possible but also understanding that price is a key factor when it comes to the sale of the home. But, should the price be the only focus on getting the best bang for your buck? Don’t let the fixation on price let you lose sight of the overall goal, selling the property and moving forward.
What are Carrying Cost? Real Estate carrying cost is simply how much you spend on your property from the time it is listed until the time it is sold. This typically includes your mortgage payment, taxes, insurance, utilities, and any maintenance and repairs needed.
“When the time comes to sell your home, don’t forget to consider carrying costs. “
Factors That Should be Considered
No doubt price is definitely important. But, it’s not the only factor. When selling your home there are a few things that should be considered.
–While you are waiting for the right offered price, how much is it costing you?
–Do you currently have a monthly mortgage payment?
–What’s your monthly utilities costing you?
–What do property taxes and insurance cost you every month?
–Will this price cause you to miss other opportunities?
–How does this affect your emotionally to hold on and wait for the right price?
–How much is HOA’s dues costing?
Set Your Price
Understanding the different factors that go into pricing your home right instead of holding out for the perfect price may ensure you receive the best overall. Carrying costs can quickly add up over time and in the long run cost you more. Price your home so it offers the most value for the money compared to its competition based on solid data.
When the time comes to sell your home, don’t forget to consider carrying costs.
Ready to Sell Your Home?
If you’d like to find out more information and are ready to sell your home, please Contact me. For more helpful tips and island information Join my Newsletter and be the first to get notified on new updates.