Change is the norm in today's busy life and in our real estate market in Austin, Texas change can be fast, unexpected, and daunting. So, what happens when an unplanned or a strategic change requires your reconsideration of your current location of your current residence? How do you deal with the potential to move to another city or neighborhood? What should you do to divest of your current real estate in an equitable manner? What are the considerations necessary to sell your current home, investment property or condo?
If relocation is a function of a company transfer or because you are taking a new job, then the process can be easier. The employer may have relocation services to offer, so be sure to ask about these. The services often include assistance in buying and selling your home, contracting a mover often with expenses paid, assistance in closing costs paid, and help securing financing for your next home. If you are making a choice because you need more space and rooms for life changes like children or elderly care or you are looking for a change of neighborhood, then evaluate the trouble and cost of moving versus the benefits. Be sure to consider the closing costs of buying and selling a home, the moving costs, and even the time costs of making the move.
In all cases, the first step is to evaluate the sale of your current residence. Do you have a clear understanding of the market conditions in your area? Is it a sellers or a buyers market? If you recently purchased your home, has the value gone up or down? If the value has declined and you will be realizing a loss, do you have enough savings to close the sale and pay-off the mortgage? If you cannot cover the potential real estate loss and need to leave Austin or your neighborhood, have you considered the possibility of renting your house or condo? On the other hand, if you are going to realize a gain, what should you do with the money in the interim period before closing on the new property?
There are a lot of good resources available to you on the Internet that can provide you with data about the current real estate market in Austin. There may also be sites that provide information about the area to which you are to relocate. You can also review Austin MLS listings to research the inventory of homes on the market and perhaps identify property comparable to yours. Once you have gathered sufficient data, you can carefully consider the impact (financial, personal, etc.) of selling your residence.
However, a local Realtor or real estate broker who is very active in the market can provide you with the answers you seek and save you time, effort and potentially money as you work your way through this process. Good realtors have experience and follow the market as closely and can be your professional consultant. So, once you realize you must sell your home, the next step is finding the best Realtor available.
