First of all, congratulations on your new job! New career opportunities are exciting but once the celebration is over, you may be wondering how to go about the many tasks involved with packing up, moving out and moving on.
Leaving the great state of California is hard enough. And when it comes to leaving the home you own, the long list of to-dos can seem overwhelming. The good news is, having to relocate for a job is very common which means there is no shortage of solutions and advice about what to do with the home you own.
Here’s a look at your options for selling a house so that you can move on with confidence.
Should you buy and sell at the same time?
Do you plan to buy a new home when you get to where you’re going? Buying and selling requires a lot of careful planning depending on how much time you have to make the transition and what’s within your budget. Many companies are up front about funding or reimbursing relocation costs. If not, it never hurts to ask! Especially if you cannot afford purchasing a new house until you sell the current one, it’s important to calculate all the money you have to work with.
Making both happen at the same time is often unrealistic if not financially impossible. Alternatively, renting in the new location buys you time to familiarize yourself with the area. Once you have adjusted to the new job you can spend more quality time shopping for the right home in a great neighborhood; one that is worth your substantial investment. It’s also worth mentioning that if you sell your house without securing a place to live first, there are few choices other than renting. Unless you are okay with Airbnbs or an indefinitely long hotel stay.
Consider the costs of selling
Do you have positive equity in the home? The decision to sell is often motivated by the opportunity to cash out. If you anticipate a significant profit from a home home sale it can go a long way, whether as a down payment, several months rent, or just some extra cash towards savings.
Once you have decided to sell, you will need to determine the value of your home. This calculation is best overseen by a professional who understands the local market and can conduct comparative analysis. If you plan on selling the home to traditional buyers, the next step is factoring in the associated costs.
Working with a real estate agent to sell you home means subtracting as much as 10% from expected sale price to account for their commissions. You’ll also need to minus transfer taxes, title insurance, inspection, repairs, closing costs, and more. That should leave you a with general estimate on what to expect from your home sale. Beyond selling costs, a good relocation budget includes moving expenses like storage, transportation and other items you plan on purchasing to get settled, such as furniture and housewares.
Time is money too. Imagine trying to focus forward on your new job when you’re so busy with the process of listing, marketing and negotiating with buyers. Cleaning, preparing and staging your property to appeal to buyers takes effort, even if you outsource the work.
Clearly, it costs a lot of time and money to cash out. Good news if you are left with as much as, say, 20%-30% that can be used towards another investment!
Sell your home and move on faster
Your job is waiting! It may not be a luxury you have to wait around for the right buyer or a competitive offer. Even if you have already started the process of selling the conventional way, it is not too late to consider alternatives for a faster, hassle-free home sale.
Selling to local cash buyers is always an option and it may be the best choice you can make in light of the circumstances. The process is straightforward. Once your get in touch and explain your situation and details of the home, they will set up an appointment at which you will be presented an offer for the home. If you agree, they will close on the home and you will have the cash within a matter of days.
Relocating for work is a big deal. So is selling a home, most likely your most valuable asset. Don’t let the selling process hold you back from taking advantage of future opportunities. Decide what’s right for you, stick to your plan and good luck with the move!
Home Helpers Group helps California homeowners discover solutions for properties they must leave behind. We know that life takes people in new directions and that there is a lot to take care of before moving! If you are relocating for a job in another state, give us a call and let us help you through the process of selling your house quickly!