Life happens. When it takes you to new places for new opportunities, you expect to make changes. Moving out of state for a new job may be an exciting change, but it can also be overwhelming to consider. Especially, if you are a homeowner.
Selling a home in order to relocate for work is very common. Plenty others before you have overcome its challenges, and so can you. Here’s a look at how to sell your Phoenix home so that you can move on with your life with confidence.
Where Will You Live?
Some employers willingly fund or furnish what’s necessary for job relocation. But when company housing, moving expenses, and other perks are not provided, you will have to sort out the details from a distance.
If you plan to sell the home you currently own, you might consider buying a new one. Listing your house and shopping for another one requires tremendous time and effort on your part, no matter how you go about it. Quite likely, making both happen at the same time is either financially impossible or unrealistic considering your timeline for moving.
Say the boss wants you to pack up and get to work within a few weeks. Renting may be your only option. And it’s not a bad one considering the unknowns of relocating for work. What if the job isn’t all it was cracked up to be? What if there’s nothing to love about the new city? You miss the neighborhoods of Phoenix; you start wondering if there’s still a spot for you at the company you left behind. Now consider the consequences of regret after you’ve bought a house there. Renting gives you time to acclimate. It gives you time to adjust to your new job and spend time shopping for a neighborhood suitable for your investment.
Keep in mind that if you sell your house without securing a place to live first, renting may be your only alternative to hotel rooms and couch surfing.
How Much Will Selling Your House Cost?
Home equity drives many people to sell their homes before relocating elsewhere. For some, the profit from a home sale can go a long way towards moving, whether as a down payment for a new home, a few months rent and security deposit or some extra cash in the piggy bank.
In any case, selling a home depends on doing the math. First, you’ll want to determine the value of your home. A real estate agent (if you decide to work with one) can calculate potential market value through comparative analysis based on local market factors.
From that figure, subtract anticipated selling and closing costs. If you plan to sell to traditional buyers with the help of a realtor, these values must include 6 to 10 percent of the sales price that goes to the agent, as well as transfer taxes and fees, title insurance and more. Don’t forget to subtract the costs of moving as well. Factor in storage, transportation, and items you plan to purchase for the new place like furniture and appliances.
If you are left with, say, 20% towards the purchase of a new home you are in pretty good shape to take the money, start house hunting, and move on. If it’s not as much as you hoped to earn by selling, you might have to hold off on buying a new home right away.
Selling a home the conventional way is unpredictable. Having an agent could be worth the spend. The listing, marketing and negotiating with buyers will keep you busier than you have time for considering the circumstances. But don’t make the mistake of assuming the agent will do everything. Home inspection, repairs, cleaning, preparing and staging a home suitable for the market will be your responsibility. Phoenix is a hot market for sellers, but there that doesn’t mean there will be a bidding war over your property. Or, that the right offer will come along before too many months or a year pass by.
Alternative Ways To Sell
If all that sounds complicated (and it is), you might go about alternative methods for selling your Phoenix home. For Sale By Owner (FSBO) can be tough for first time home sellers but lucrative if carried out successfully. Selling to cash buyers is always an option, especially if your goal is to close quickly without the hassles and costs of selling the conventional way.
Now’s the time to focus on the future. Your career and the upcoming move deserve your full attention and selling a home doesn’t have to set you back from what’s important. PropertyCartwheel.com can give you a cash offer on your Phoenix house in 24 hours! We know that life happens and we provide solutions for homeowners that need to deal with it!
