Owning a house you don’t want in Greenville can hold you back in a lot of ways. Learn how in our latest post!
Many people hold on to an unwanted property, not realizing what it is really costing them. Between the financial aspect of owning a house, the frustrations, and the missed opportunity costs, owning the wrong home is likely setting you back in ways you haven’t even thought about. Below, we discuss 5 common misconceptions people have about owning the wrong real estate in Greenville.
You Won’t Be Able To Find A Buyer
Many people who feel stuck or burdened by an unwanted house, hold on to it for longer than they should because they don’t think anyone else will want to buy it. However, there are typically investors and those looking for a fixer-upper who are looking for a property just like yours. As they say, one mans trash is another man’s treasure. Don’t assume you won’t get a great price for the property until you put yourself out there. You can start with a free, no-obligation offer from Pitt Home Buyers!
You Won’t Be Able To Get A Great Price
You’re already not a fan of your house, but that doesn’t mean other people feel the same way. Even if you convinced yourself the house isn’t the prettiest on the block, there’s still a chance you can get a good price. The important thing to remember is to leave your feelings at the door when you’re selling your house in Greenville. Similar to people who have an emotional attachment to their property and jack up the price based on how they “feel”, your emotions can cause you to have a negative outcome. Be objective and see it for what it is. A house that you’re going to sell!
When you find the right buyer for your house, they won’t try to nickel and dime you. Professional house buyers such as Pitt Home Buyers will ALWAYS pay you a fair price no matter the condition of the property or the situation you are in.
One Day They’ll Fix It
Owning a house that you plan on fixing, but never do, is another problem to avoid. So many people hold on to a property with the intent to fix it up, however, in the end, they never do. Instead, the basement will sit half-finished for another 5 years, the kitchen will remain dark and cramped, and the needed repairs will go undone. If you are really going to fix it, you would have already. If you are solely holding onto a property for what it maybe one day, you might want to find a house that is already what you are looking for in a house.
Local Story (Ayden, NC): There’s a property by our house on County Home Rd in Ayden NC. I pass it every day on the way to work and on the way home. If you didn’t look closely, you’d never know there’s a house there! It was left to 9 heirs after their father passed away. After speaking with one of the heirs, I found that some of the heirs are interested in selling it, but others keep saying they’re going to “fix it up.” When I spoke to her last year, she said her family was pricing out bush hogging so they could get the ball rolling on fixing it up and renting it. The house is still sitting there. Still being lived in by squatters during the winter. Don’t let this happen to you!
The Value Will Go Up
Sure, over time property values tend to rise, however, this isn’t always the case. When the markets are unstable, homeowners must be aware that there is potential for their property value to drop dramatically at any time. There isn’t anything worse than owning a house at the wrong time, hoping the value will rise, only to find yourself with a property that is worth less than when you bought it. If you feel like you are stuck with the wrong house, the time to sell it is now!
It’s also important to know that if you own a property in Greenville that no one’s living in, the value can continue to drop as well. When it sits vacant, no one is maintaining the house and it starts to fall apart. It starts with the roof (remember, we have a lot of hurricanes here!), drips into the walls and the floors, and rots it away from the inside. At Pitt Home Buyers, we work with a lot of properties that have been neglected. Even if you think the value will continue to go up, it’s time for a reality check. It’s not going to happen while you’re owning a house that is not being maintained.
They’ll Get Used To It
While you might get used to some of the problems, they will most likely just continue to drive you crazy. Seriously, that’s no way to live. Having to worry about your property on a regular basis, paying for repairs, and dealing with problems as they come up isn’t fun for anybody. Especially if you have to drive out of state to do it! While you might get used to some things, the question is, do you really want to? You don’t have to settle. You can liquidate your unwanted property, turn it into cash, and move-on to a house that makes more sense for your current situation. There’s no reason to be owning a house that causes you grief! Get over it and take action!
If you own a house you aren’t completely satisfied with, don’t trick yourself into thinking it is what you should settle for. There is no rule that says you need to own the house forever.