Are you holding on to a property in Weatherford and you aren’t exactly sure why? Every day that you continue to own the property, you are spending money on it. Before you hold onto it for another day, consider the below points. It might be time to think about selling your Weatherford home! An old adage in real estate sales is “your home is worth what someone is willing to buy it for”. This suggests that there are many different factors, some arbitrary that go into the valuing of a home. How much does holding a property cost in Weatherford? Keep reading to find out!
Ask any property flipper and they will tell you this: the faster you make the flip, the more money you will make. Plain and simple, owning real estate costs money. And if you are holding on to the property for sentimental reasons or because you “might” use it one day, you are only throwing your money away. You need, then, to market your house to people for whom buying a house with cash is the actual goal (not just tire kickers), get them in the door, and then close the deal. The property you own should be working for you NOW. It can be your primary residence, providing a monthly income, or be used for recreational purposes. If your Weatherford house isn’t doing one these things, it might be time you consider selling it!
Costs of Holding A Property In Weatherford
Property taxes can be high. With recent changes to the tax code, they may no longer deductible either. As long as you are listed as the owner of the home, you will be responsible for the taxes on it. By selling your house in a timely manner, you can immediately end your tax obligation for the house.
Monthly utilities can add up quickly. If you were to add up the amount you’ve spent on electricity, water, gas, tv, and internet you might be surprised at how high that number is. Even if you aren’t residing in the home while selling it, you will still need to keep the lights and the water on for the people who come to see your house. If your house is older and less energy efficient, you are likely to have utility bills significantly higher than what you would find in a new home.
Maintenance & Repairs
It always pays to sweeten the deal to make it more attractive for buyers. The tried-and-true principle of reciprocity tells us that people are willing to give more (sale price) if they feel they are getting something in return (the deal sweeteners). A good rule of thumb for maintenance costs is the one percent rule. This rule states that you should plan to spend about one percent of your purchase price on maintenance each year. For example, if your house was purchased for $250,000, you should plan to spend about $2,500 on home maintenance each year. Of course, these numbers can vary widely, but many investors use this formula to estimate costs.
The premium for a homeowners insurance policy will vary based on the house and its location. You can expect to pay over $1000 annually for an average Weatherford home.
It can be difficult to come up with a mortgage payment each and every month for a property you don’t want to own. The average mortgage payment nationwide is well over $1000 each month. Some people are struggling to pay thousands of dollars each month when in reality they would be much better off selling the property.
What else could you be doing with the money you have tied up in the house? You could very well be missing out on a better home or investment opportunity. Look around at what else is out there and decide if you are truly happy with your current situation. If your property isn’t doing anything for you, it might be time to find something new!
As you can see, selling your home now as opposed to holding a property can help you keep more money in your pocket. For every day you continue to own it, you will also continue having to be financially responsible for it. The bills and maintenance costs add up quickly. Run the numbers for yourself and make the decision that makes the most sense for you! Selling your house to a direct buyer instead of listing with an agent! You will not only save money on marketing, listing, repairs and closing costs, but you won’t have to wait to receive your money! Imagine being able to sell your Weatherford house without the stress and hassle of a traditional listing!
We here at TMC Property Solutions offer cash for houses in Weatherford and the surrounding area. We’re local houses buyers and have been helping local homeowners sell their house quickly since the year 2000 with no closing costs, no commissions, no hassles, and close within a couple days.
We do a variety of things with our homes from holding them as rental homes ourselves to remodeling them and flipping them for someone else who would love to live there and enjoy the home themselves, and some we wholesale to other investors to fix-n-flip.
If your Weatherford house qualifies, we can you make you a quick and fair cash offer, then you decide if this new way to sell your home works for you or not, so reach out to us today.
Are you holding onto a property you aren’t using? We can help! Send us a message or give us a call today! (817) 550-5069 Opt# 5
TO LEARN MORE ABOUT HOW TO SELL YOUR HOUSE FAST FOR CASH IN Weatherford, CONTACT US BY PHONE AT (817) 550-5069 Opt# 5 24/7 OR FILL OUT THIS SHORT FORM and we’ll be in touch shortly.
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