Should You Sell Your St. Louis Home?
You love your St. Louis home, but in the back of your mind, you know it no longer fits your lifestyle. Maybe your kids are grown and you want to downsize or you want more space. Whatever the reason, it may be time to let go and sell your St. Louis home.
If you find yourself unsure about what your next steps should be, here are some tips on how to know if it is time for you to sell your St. Louis home.
You Can’t Add Space
Even if you’re family is no longer growing, you may need space for other reasons. Maybe now you have a lot of grandchildren or you want more space for your hobbies. If you know you can’t add more space to your St. Louis home, then it’s time to move.
To know for sure, try going through your possessions and getting rid of things you don’t use or want any more. In any given closet, you can certainly find clothes, electronics and toys that no one uses. Get rid of the and see how much space you’ve found. This might solve your problem.
You’re Drowning in Space
On the flip side, you might have too much space and not enough possessions or people to fill it with. If you really don’t need four bedrooms, consider downsizing to a St. Louis home that fits your new lifestyle. You’ll save on utility bills and maintenance costs.
You Don’t Like Your Neighborhood Any More
You want a tool shed, but your homeowner’s association forbids you from having one. You used to love to take the bus to the grocery store, but now you wish you could just drive. You used to enjoy going out to the nearby bars, but now the noise coming from them is just annoying. If this is you then it’s time to move.
Neighborhoods change over time, so don’t feel like you have to accept living with them.
Your Remodeling Investment Won’t Do Much for Your St. Louis Home Value
You may really want an upgraded kitchen or bathroom, but while that may be nice in the short term, you might not make your investment back. Depending on your St. Louis neighborhood and market, big investments don’t always pay off when it comes time to sell. You might invest all that money and then lose it when you sell.
Before you redo your kitchen, look at the St. Louis comps for your home right now. If your home’s value is already at those levels as some of the upgraded homes, then doing more work won’t help your investment. It’s better to buy a home with those upgrades already in place.
You’ll Make Money on the Sale
If you’ve been in your home long enough, then its value has probably appreciated. Once you sell, you’ll actually make money.
Before you commit to this however, remember that selling a St. Louis home costs money. There’s staging, realtor costs and closing costs as well as plenty of others to think about. All that money you made selling might get sucked up in closing costs unless you already have the funds to pay those costs.