When you’re ready to buy or sell your home, there are a number of things to take into consideration. If you’re considering a big change like that, you’ll want to dot your i’s and cross your t’s to ensure you have the best experience and get the best results.

Here are some suggestions from West Michigan Real Estate broker, Leigh Lohman:

Financial

The financial things that you need to consider when you’re buying a home are how much money you have in a savings account that you can set aside for down payment purposes on your home.

Whether that’s cash on hand or equity in your existing home, having capital to work with can help you push forward into your next purchase.

I always tell people, ask what the monthly payment is and then take into consideration:

Do I have a car payment?

Do I have money set aside for a 401k?

Do I have kids that I’m paying oodles of money for soccer?

These are just a few of the things that I can think of in my own life that make my mortgage payment affordability completely different as a whole than it does as a monthly payment basis.

I remember the first time that I got pre-approved and we were told we could spend a half a million dollars on a house, but when I backed up into what that looks like on a monthly basis, I came to the conclusion that we can’t afford that.

 

Lifestyle

Some of the other things that we need to take into consideration when we’re talking about buying or selling a home in West Michigan would be some lifestyle changes.

Some of those lifestyle changes could be having children or expanding your household. Sometimes when we have enough children, we feel like the walls are closing in on us.

Or when you get to the point that you’re about to become an empty nester and you want to downsize. Maybe you want to move to a downtown area so that you can walk around and get some more exercise and experience downtown life.

Other things that you should consider are unfortunate life events that happened to all of us, whether we like it or not. And some of those can be the unfortunate situation of going through a divorce or a job change, whether it’s a good thing or a bad thing.

Sometimes we lose members of our family and we need to have a trusted resource in order to make sure that they’re in a state is taken care of.

Regardless of the scenario, planning accordingly is a must.

 

Timing The Market

It’s a well-known fact right now that in West Michigan, especially in Grand Haven, that inventory is low.

With that being said, I think inventory is low basically anywhere.

Good time to sell doesn’t necessarily mean that you have to wait until the spring because the market is hot, if you’re just considering putting your house on the market and you’re asking a general opinion, I say, put your house on the market when it works for you, when it works in your personal schedule, and your work schedule to make a move. 

During the times that aren’t the spring selling season, you could be one of five in your price range or in your area as far as being on the market where the competition is concerned.

In the spring when everybody thinks it’s the right time to sell, you might be one in 20 so your competition would likely be lower if you don’t wait until the spring. But in a nutshell, my opinion is you should sell when it’s the right time for YOU.

Need Help Buying or Selling a Home?

Simplifying Your Home Life

Let’s face it. Life can get complicated, complex and stressful very easily. Luckily, there are plenty of ways to simplify your life, especially at home. Here are some tips from the experts: Don’t be ruled by the TV guide. Instead, select the shows you want to watch...

What are My Obligations to Disclose?

We have had water in our basement but it has been dry for 3 years...Do we have to disclose that? Yes - even if you fixed the issue by adding a completely dry basement system. We had a roof leak but we fixed it. Do we have to disclose that to potential buyers? My...

Search

Unsalted Living Grand Haven

We have an intimate knowledge of the landscape and the homes in this region—one of America’s most stunning. From modest homes near the shore to private, multi-million-dollar destinations on the water, we’ll find you the home you want and provide the service and negotiation you deserve.

If you dream about walking over to Lake Michigan in the morning, or sitting on your porch and watching the sunset, we look forward to making your dream a reality.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Where Should We Send It?

You have Successfully Subscribed!

Where Should We Send It?

You have Successfully Subscribed!