When you meet with a financial professional to discuss investing, he or she will often give you an assessment to determine your comfort with different levels of risk. The results of the assessment will indicate whether you're comfortable with high-risk investing or you'd prefer investments with a low risk. You should also keep your comfort with risk in mind when you're in the real estate market. If you're getting ready to sell your home and you identify as a low-risk individual, here are some ideas that you'll want to strongly consider.
List It Early
People who are comfortable with high risks might be OK with listing their homes just a couple weeks before they need to move, but this approach will be highly stressful for low-risk individuals. If you want to keep the risk of a problem as low as possible, you should list the property early. Your real estate agent can advise you about exactly how early is a good idea, based on the desirability of your home and the current market conditions. The earlier you list, the higher probability that you'll sell the home by your preferred date.
Don't Buy First
One of the challenges of selling a home is that you'll often be buying another one — and it can be difficult to juggle purchasing a property while trying to sell yours. While there are a variety of opinions about this subject, selling before you buy is a good idea if you're a low-risk individual. Even if you were to come across the ideal property to buy, buying before your house sells is a risk because if you aren't able to sell in time, you'll have to handle two mortgages at the same time. While it's OK to browse the market to see what is out there, you should hold off on purchasing something until your house is sold.
Have Your Own Inspection
One of the risks that can be present in the selling process is learning that there's an issue with the house that has come up during the home inspection. In some cases, there's a risk that the issue will cause a conditional buyer to drop out. You can mitigate the risk of such a challenging situation taking place by having your own home inspection before your house hits the market. This process will advise you of any issues — and if there are none, you'll be looking at a low risk of a future inspection turning up something wrong.
Consult with an agency for help when listing your property for sale.Share