Goldsboro's main hustle and bustle comes from our beloved Air Force base, Seymour Johnson. Because of the population and housing traffic it brings and because I am a veteran myself, it is my goal to help military personnel and their families when buying and selling. In this post, we will answer some of the most frequently asked real estate questions, straight from the source themselves.
We’re moving 8 hours away, would it be more beneficial to rent out or sell our house?
There are a few questions you have to ask yourself here. How much is your house worth, and how much would you pocket after all is said and done? Do you HAVE to sell your home in order to purchase a new one? If you rent it out, could you afford the expenses if the house stayed vacant for any period of time? Yes, it is a lot to think about, but that's why you should consider hiring a professional. An agent will be able to give you a comparative market analysis (CMA), which tells you the value of your home and how it compares with the current market. The agent will also be able to configure your estimated net proceeds, which will tell you what you'll walk away with after the real estate commissions, attorney fees, etc. Now when it comes to renting out your home, you will most likely need a property manager to help determine how much your home will rent for and to deal with your rental and tenants while you're 8 hours away. This service will also carry fees, however. Overall, I think it depends on your situation and personal preferences. Do you see real estate as being a part of your long-term investment plan? If so, I'd say rent. If you'd rather cut your ties and start with a clean slate, then sell.
How easy is it to sell a house?
While an agent takes care of a lot of behind-the-scenes details, my Seller's Roadmap
will lay it out for you.
When should we list our house?
If you're looking to move within the next six months, you'd want to call me ASAP. Selling can take anywhere between a couple of days to a couple of months, depending on your home's marketability and the housing market at that time. It's my job to watch the market and suggest a list price and time that will get you the most $$$ for your home.
How fast do houses sell in this area?
Again, it's all about the market. If it's currently a seller's market, meaning there is a low supply of homes for sale with a high demand for them, your home could sell fairly quickly. If it's a buyer's market, your home might take longer to sell as there are many houses on the market. If you are thinking of selling, keep your eye on the market and see what other houses are selling for, and how fast they're going. Keep in mind that every home is unique.
Which is cheaper in this area, renting or buying?
Buying is usually always cheaper. It is easier to qualify to rent, which means there will be more people who want/need to rent. The more people who rent = a higher demand with a lower supply of rentals. Rent in an area like this will be much higher than a mortgage for a house would be.
Is this a good area for buying a home when you don’t know how long you’ll be here?
In my opinion, yes. IF you are financially responsible enough to ensure your mortgage is paid. It's really time for a personal financial reality check. Since this is a military community and there are constantly people moving in and out of Goldsboro, your home should rent or sell with relative ease when the time comes.
I hope by answering these questions your thoughts on selling, renting, and buying are cleared up. However, if you need any additional help on any of these matters or wish to list your home with us, please do not hesitate to contact me at any time!