And here we are again – I’m ecstatic you liked the third blog in my duplex series so much you decided to come back this week! And in case you’re just joining us, here’s a link to the first blog on the subject, which gives you a general overview. In my last post, I covered why you should buy a duplex as your first home from the aspect of managing (and starting) your real estate portfolio. That was the second of my three-part rationale:
- Rent out extra space for additional income
- Jumpstart your real estate portfolio with a firm foundation
- Premium resale value
What do I mean by that third one? The resale value of a property is pretty self-explanatory. It’s how much a property is worth when you’re ready to put it on the market (and what I mean by that is how much someone is willing to pay for a property in today’s market). By purchasing a duplex, you are preparing yourself to sell one property – but two homes. This could mean big bucks in the future.
When and Why Should You Sell Your Sedro-Woolley Real Estate?
These are extremely subjective questions, but there are a few standard answers that help a lot of people who own Sedro-Woolley real estate and are thinking about putting a home on the market.
- You need the money.
Whether you’re padding your retirement fund, purchasing a new or additional property or need capital to start a new business, the need for additional cash is often a primary factor in the decision to sell.
- You don’t want to maintain the property any longer.
Being a landlord isn’t always easy. Sometimes dealing with tenants and general property upkeep becomes more of a job than it’s worth.
- The property has appreciated so much it doesn’t make sense not to sell.
That’s the nature of real estate, usually. Property increases in value, sometimes surprisingly quickly. Taking advantage of the opportunity to make a hefty profit is another key reason to sell.
That’s it! My third and final expanded justification for suggesting you purchase a duplex as your first Sedro-Woolley real estate adventure. Keeping these three things in mind should help you when you begin to think about whether or not selling your home is right for you. If you have questions or are ready to start the process, call the Dominic Pettruzzelli Real Estate Team. We’re available at 360-610-7256 and are eager to help. Be sure to check back next week, when I tie this all together and present you with what I hope is a fantastic wrap-up of this important topic!