HONOLULU (KHON2) – Are you thinking it’s time to sell your Hawaii home? Well, before you call up a realtor and put your house on the market you might have to do some behind-the-scenes work first.
Typically, Hawaii houses hold their value, meaning no matter when you purchased your home, odds are you’ll end up making a profit.
Real Hawaii has a guide for Hawaii homeowners to follow when they decide it’s the right time to sell their house.
Steps to consider when selling:
- Upsizing or downsizing is on your mind
- Being emotionally ready
- Making sure you have built enough equity
- Having time to make your home shine
- The market is right
- You might qualify for the homeownership tax break
- Having a great real estate agent
When it comes to selling your home, are you doing so because you outgrew it? Or have you recently become empty nesters and need to downsize into a smaller place. Knowing these things is important when it comes to selling your home and figuring out what type of home you are looking for next.
Because the market can be unpredictable it’s best to be emotionally ready to get multiple offers or get no offers at all. House buying and selling is known to be one of the most stressful things people can go through. So, it’s best to be ready for whatever comes your way.
Having enough equity in your home is key when selling. It’s important you do not owe more on your home that it is worth. Of course, if you are trying to avoid bankruptcy or foreclosure it’s best to have an open and honest conversation with your real estate agent.
Staging is very important when selling your home. If you have been putting off changing a few lightbulbs and getting your garbage disposal fixed now would be the time to do it. Putting in a little bit of money for upgrades and a fresh coat of paint can have a big impact on potential buyers.
When you sell your home, you can get a large tax break up to $250,000 in profit for a person who files singularly and $500,000 for people who file jointly. This is something to consider when selling your home and thinking about next year’s taxes.
Having the right real estate agent is very important. Agents bring in different clients who they know might be interested in buying your home. Agents do most of the hard work while you sit back and wait to receive offers.
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For more helpful information about selling your Hawaii home, head to Real Hawaii’s website.