LISTING YOUR HOME FOR
Financial Reasons
For many, a home and/or mortgage obligation can represent an enormous financial, time, and emotional burden – but it can also represent a tremendous store of potential value.
Should You Sell Your Home?
For many, a home and/or mortgage obligation can represent an enormous financial, time, and emotional burden – but it can also represent a tremendous store of potential value. And we’ll discuss these two popular positions here.
Mortgage is just too big
Mortgage is just too bigA home represents the single largest investment most people make in their lifetime. And it isn’t uncommon for most Americans to assume a higher mortgage than they can comfortably afford. They often pin their hopes on inflation, employment stability, future income growth, and the payoff of other debts (like student loans) which would make a house payment more bearable as time goes on.
Even if the plan goes generally as planned many mortgage payments still find themselves adding tremendous financial pressure with each passing year. A tough mortgage payment will strain bank accounts, credit, time with family, and even a marriage. So, it’s not hard to imagine what happens when things don’t go according to plan. And here is where acting quicking may benefit you.
First, you need to remember that homes are sometimes slow-moving investments. Both in appreciation and in liquidation – homes are not like stocks that you can sell in the morning and have the funds in your bank account in the next 1 to 3 days. So if you sense trouble on the horizon, talking with a REALTOR® to understand the timeline involved may be key in mitigating any serious financial stress and concern.
RULE OF THUMB
Many financial planners suggest that your house payment ought not exceed 25% of your household income. Yet, most lenders recommend that your house payment ought not exceed 36% of your household income – and the average household finds itself near or above this limit with many in higher-end homes teetering close to 45%.
Equity and Other Debt
There’s a great chance your home has built up equity through the years. For some, it’s tempting to use these funds to pay off high interest debt, roll the funds over into less expensive home, or live out a dream like going back to school or traveling the world. When you find yourself in a position of not having to sell out of pressure or necessity, it’s sometimes easy to procrastinate on the discussion – but since you’re here, you might be closer than ever in exploring this opportunity. Here again is where speaking directly with a local REALTOR® may provide you with information on what your home is actually worth, an estimated timeline, and answer any of your questions that may help you understand the road ahead.
For many, a home and/or mortgage obligation can represent an enormous financial, time, and emotional burden – but it can also represent a tremendous store of potential value. And we’ll discuss these two popular positions here.
Mortgage is just too big
A home represents the single largest investment most people make in their lifetime. And it isn’t uncommon for most Americans to assume a higher mortgage than they can comfortably afford. They often pin their hopes on inflation, employment stability, future income growth, and the payoff of other debts (like student loans) which would make a house payment more bearable as time goes on.
Even if the plan goes generally as planned many mortgage payments still find themselves adding tremendous financial pressure with each passing year. A tough mortgage payment will strain bank accounts, credit, time with family, and even a marriage. So, it’s not hard to imagine what happens when things don’t go according to plan. And here is where acting quicking may benefit you.
First, you need to remember that homes are sometimes slow-moving investments. Both in appreciation and in liquidation – homes are not like stocks that you can sell in the morning and have the funds in your bank account in the next 1 to 3 days. So if you sense trouble on the horizon, talking with a REALTOR® to understand the timeline involved may be key in mitigating any serious financial stress and concern.
RULE OF THUMB
Many financial planners suggest that your house payment ought not exceed 25% of your household income. Yet, most lenders recommend that your house payment ought not exceed 36% of your household income – and the average household finds itself near or above this limit with many in higher-end homes teetering close to 45%.
Equity and Other Debt
There’s a great chance your home has built up equity through the years. For some, it’s tempting to use these funds to pay off high interest debt, roll the funds over into less expensive home, or live out a dream like going back to school or traveling the world. When you find yourself in a position of not having to sell out of pressure or necessity, it’s sometimes easy to procrastinate on the discussion – but since you’re here, you might be closer than ever in exploring this opportunity. Here again is where speaking directly with a local REALTOR® may provide you with information on what your home is actually worth, an estimated timeline, and answer any of your questions that may help you understand the road ahead.
We’re Here to Help.
Let’s Discuss Your Options.
Ready to learn more? I’m here to help!
Let's talk. You have questions about the area—let me find you the answer.
Brian Hymas
208.891.4200
myrlage@gmail.com
I don’t know of too many second graders who set their sights on being a real estate appraiser, and stick with that goal and make it a reality. I thought that walking through mansions everyday sounded fun. Turns out I did get to walk through a few mansions, but I didn’t interact much with people. In my 5 years as a business to business sales rep for a company here in Eagle, I learned the art of negotiations, being honest and fair with my customers, and I learned to be their advocate and stand in their corner.
In the last 2 years, I have been all-in on learning online marketing. This is my biggest asset because of today’s changing technological world. Understanding Facebook and Google ads, leveraging social media to drive sales that can be tracked, and not just social interactions, and learning the nuts and bolts of SEO, makes me a a unique and qualified REALTOR.
I have a wonderful wife, 2 daughters and 1 son. We live in Eagle and enjoy gardening, dreaming of living in a parade of home someday, and possibly doing that in Kauai. We enjoy sitting by pool, taking small trips to McCall, or bigger trips to Hawaii, and living our chaotic and fun lives. When I am not doing real estate or playing at the park with the kids, I nerd out and try to create websites that can help drive traffic to small businesses here in Idaho and a few outside of this area.
