Take the following questions into consideration:
Am I selling my home because I’m reacting to something that is fear-based?
- I’ve seen quite a few fear-based real estate marketing pieces and scripts recently to try to convince sellers to sell. (“Sell before the market goes down.”, “Are we in a bubble?”, “How long can this streak last?” etc.) Making any decision from a position of fear is not where you want to be, and being reactionary is not where the best decisions come from. Soundbites and buzz words are not used to make wise financial decisions.
- Bottom line: The real estate market is cyclical; it goes up and it goes down. Real estate is a long-game; hold through the low markets, and don’t sell until it’s the right time for you and your financial goals.
Can I put the equity from my home into an investment that will make me more money than the Austin real estate market?
- The Austin real estate market has been growing at a very strong rate for many, many years. Now is no different. You’d be hard pressed to find another investment that will make you more long-term gains than real estate.
Will the equity from my home allow me to start a business or passion project that would change the trajectory of my life?
Life is short. Let your money work for you to live a life you’re proud of, create something that makes you smile, and leave a legacy. Investing in real estate gives you that power.
Will the equity from my home allow my to make decisions in my life that I feel are important for my family?
- Example: We have a seller right now selling their investment property to stay at home and raise their babies instead of continuing to work and therefore being forced to put the babies in daycare. Their investment property has given them the power to make the decision that is right for them.
- Example: It’s time to retire or it’s time to send a child off to college. If either is the case, this might be a great time to cash-out and use the money for exactly what the money was originally intended for.
- Example: Your current home simply doesn’t work anymore. If this is the case, time to sell and buy something better suited for your needs.
Will the equity from my home allow me to purchase in another market with cash, and put me in a better financial position?
- Example: One of our Sellers is a teacher here in Austin, an award winning teacher. Unfortunately, her salary is not increasing at the same rate as Austin’s cost of living. She is selling her home, and putting the incredible gains made into purchasing a home for cash in another, less expensive, market. In addition to being able to pay cash for her new home, she’ll be able to put away a nice nest egg, make additional investments, and secure another comparable teaching job in her new market. This sale will allow her to continue the career she loves, while giving her true financial freedom and the ability to financially thrive. That’s a whole lot better than living paycheck to paycheck.
We’re here to have direct and transparent conversations to help you work through the pros and cons of selling for your particular situation. Contact us with your questions, we’re a wealth of knowledge and happy to share.
-Meghan Matta, Broker/Owner, The Groove Realty