Many people encounter some hesitation when they are first thinking about selling their home. After all, you lived there for some time, and the decision of moving out of a comfort zone is not easy for most people.
If you’re on the fence, consider these 5 signs it might be time to sell your home in Orlando.
1. Your neighborhood has changed
When you moved in, it was a quiet neighborhood with only a few families. Now, someone decided to build a huge apartment complex down the street, and there is just way too many people and traffic. In addition, a few new residents have decided to build huge modern homes in your community, raising your property taxes. Maybe the your current HOA is managed by a bunch of militants more concerned with property values than maintaining a friendly vibrant neighborhood. If you don’t LOVE the neighborhood you live in, you might want to think about relocating to a location you will love!
2. You are an empty nester
If your kids have moved out and the house is just too big to take care of, it might be time to think about downsizing into a smaller home. Not only will you save money on utilities/taxes/insurance, the home will require a lot less maintenance. In addition, you’d be surprised how much “stuff” you have accumulated over the years. Getting rid of it in an estate or garage sale will not only provide some stress relief but also put some cash in your pocket.
3. The value of your home is higher than ever
Since COVID, the value of your home has risen substantially; in greater Orlando, home prices have increased by almost 30% over the last 3+ years. Real estate values fluctuate in a cycle, so these higher home values won’t last forever. You can sell your home fast and cash in now before the next downturn hits.
4. Lower your taxes through capital gains
Over the past few years, home prices have increased a lot in Orlando and Central Florida. By selling your home now, you may have the opportunity to earn up to $250,000 in tax-free capital gains provided you have lived in the home for the past two years. Does someone else own the house with you? If so, that number jumps to $500,000 that you can collect in capital gains… tax-free.
5. Quality of life
As Orlando’s population has grown, commute times are longer than ever and people are spending hours a day in their vehicle, especially if they have to use I4. In the long run, missing out on quality time and feeling the stress of getting home before the kids fall asleep aren’t the kind of memories most people want to make. Moving closer to your job will save you time, money and lower your stress levels!
Do you want to sell your home in Orlando for a great price?
We’ve been helping sellers since 2014 and can answer all your questions so you know what to expect! Fill out this form to send us an email, or give our office a call today! (407) 738-1581