If you are contemplating selling your home during a recession, you may be wondering if this is the rights time. Although there is a lot of competition out there and fewer people are buying, the fact is that some homes are still selling quickly. Some of these homes are even selling for more than their list price? How is this possible when everyone is saying that this is the wrong time to try to sell a home? The homes that sell have certain things in common. Take a look at this list to see if your home will sell in a recession.
Location has got to be the number one reason that a home sells, especially in a recession. While houses can be renovated or rebuilt, the location can’t be changed. If everyone wants to live in the area, then you should have any problem selling. Sometimes the value of a home can vary quite a bit depending on where it is placed in a neighborhood. For example, a home that is on one side of a road could be worth more than one on the other side, depending on a few factors. it can vary from block to block.
But location is not just a matter of water views or a trendy place to live. There are several factors that contribute to the value of a location.
Is your home located near community resources? Having a park, a library, a playground, a good shopping area or a revitalized downtown are all things that buyers seek when shopping for a home. Is your home within walking distance of easy transportation, such as bus lines or trains? This can also work in your favor. The best location is within easy distance of culture and public services but far away from them to reduce the amount of traffic and noise. You don’t want to be on a main road, right next door to a school or the train tracks.
There are other factors that can increase or decrease the likelihood of your home selling, from sidewalks to septic. Check back for more information.
Mary Ann Romans writes about everything related to saving money in the Frugal Blog, technology in the Computing Blog, and creating a home in the Home Blog. You can read more of her articles by clicking here.
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