Are you a homeowner who is struggling financially? Do you have debt that you are struggling to pay every month, or do you find yourself living paycheck to paycheck? If you answered “YES” to these questions, then selling your home may be the solution you are looking for.
Following the economic crash of 2008, many individuals found themselves in a negative financial position. Millennials were faced with mounds of student loans and no job opportunities, while older generations were faced with medical bills and loss of retirement funds. Over the last ten years, some have recovered; however, there are still thousands of Americans who are trying to get ahead. To get out of this unwanted position, consider selling your home.
Selling Your Home Can Help Pay Off Old Debt.
Whether it is student debt, medical bills, or credit cards, paying interest on debt can be frustrating. Many times, individuals with this debt are only paying off the interest and can expect to be paying the debt for thirty years or more. This is no way to live. It increases stress and reduces enjoyment in life.
Therefore, if you own a home, you can leverage your position to pay off your debt. When you sell your home all cash, you can take the profit and pay off debt, using the leftover capital to reinvest in your next home. The housing market is shifting to a buyer’s market, so now may be the optimal time to prepare for the change. You can sell high and buy low, and get out from the creditors that are taking your financial freedom away.
Selling Your Home Can Reduce Your Mortgage.
Thousands of Americans are what we consider “House Poor” – that is, they are paying more than 25% – 30% of their income to their mortgage. Some individuals are paying as much as 50% – 60% of their income, leaving no extra cash each month to enjoy their lives.
Selling your home and transitioning into a home within your budget can change your life. Yes, you may need to make some sacrifices, such as moving into a smaller home or changing locations. However, in the long run you will be thankful. You will be paying less each month towards your home and escape the trap of being house poor.
Selling Your Home Can Reduce Your Monthly Bills.
Depending on when you purchased your home and what upgrades are inside, you may find that your utility bills are higher than you friends and neighbors. Many recently built homes are concentrating on being eco-friendly, in which they are ultimately designed to reduce your utility bills. If you are struggling to pay your heating bills each month (or any other utility bills), then selling your home and moving into an eco-friendly home can provide long term financial relief.
To assess how to reduce your monthly utility bills, look at the following: what appliances are installed in the home, what the insulation is like in the home, how the roof is on the home, and how the windows are installed. These four simple steps could help determine if your monthly utility bills could be reduced.
Selling Your Home Can Help You Prepare for Your Future.
Unless you own your home outright, you are most likely paying a mortgage. However, if you are open to moving into a smaller home, you may be able to better prepare for your future and purchase a home all cash. Depending on how much you owe on the home, the market right now is still in favor of sellers, so selling could get you enough capital to purchase a new home.
No longer will you be paying monthly mortgages and interest, but instead you can increase your monthly income, providing you with more money each month to spend on leisure activities; you can also have extra cash to save for a vacation and you can start preparing for your retirement. Getting out of your mortgage and the debt trap can be life changing.
Would You Like Financial Relief?
Stop living in debt and start living for yourself. If you are confronted with any of the above scenarios, or just want some extra cash for your future, contact us and learn more about how you could benefit from selling your home to an all cash investor, such as ourselves. We can provide you with a free home evaluation, which may be the first step in assessing if selling your home is a financially smart decision. If you are interested in our offer, we can provide you an all cash close within as quickly as five days.