Have lived in our home for five years. We are wanting to down size because older child is going to be going to college. Should we sell now or wait?

Asked by Shelby, 67230 Sun Jan 29, 2012

Help the community by answering this question:

+ web reference
Web reference:


Rhonda Overman’s answer
Rhonda Overm…, , Derby, KS
Wed Aug 14, 2013
Sounds like you purchased when the market was up. However, home prices have been going up quite a bit since the first of the year. I would love the opportunity to perform a market analysis on your home and work up a Sellers Expense Sheet so you will make the right decision for you and your family. You may contact me at my office at 316-778-5581.
0 votes
Joseph Domino, Agent, Scottsdale, AZ
Tue Mar 27, 2012
Wait, your child will be coming back. Ask me how I know.
1 vote
Leesa Hughes, Agent, Wichita, KS
Mon Apr 21, 2014
I've found that it's always a great idea to consistently re-evaluate your household budget, regardless of the situation. Some of the questions to ask yourself:

- Look at overall household debt. For example, are you paying for any of your child's college bills?

- Get an agent to look at comps and give you a home price value opinion. An experienced agent will tell whether you have equity or not.

- Do you really want to sell, or perhaps turn your home into a rental? Many folks are thinking about the benefits of turning assets (like a home) into an annuity stream. If you can make the rental cash-flow positive, it's a great way to start building up retirement income.

Please contact me and we can run through specific scenarios. I'd be happy to help you plan this all out.

Leesa Hughes
0 votes
Karen Peters, Agent, Wichita, KS
Wed Jul 24, 2013
Id love to help you contact me through my Trulia profile
0 votes
Lorrie Nicol…, Agent, Olathe, KS
Tue Mar 27, 2012
Call a local Realtor to see if the market is up or down. If it is down then wait until your child is out of house. Hopefully the market will be better then. Best of Luck.
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Sun Jan 29, 2012
Hi Shelby....

Only you can really answer that!

First, find out , realistically, what you can get for your home, and see if that puts you in the plus or minus column (based on what you paid in '05) once you factor in closing costs.
Local agents will be happy to create a market analysis for your home.

Do the numbers work for you?

Next, ask yourselves if you are ready to downsize right now........(they go to college, true, but still manage to find their way home! haha).

Whatever you decide - I wish you all the best!
0 votes
Reenie West, Agent, Wichita, KS
Sun Jan 29, 2012
I would recommend you list now. Activity has picked up significantly.
0 votes
Steve Vennem…, Agent, Pine Springs, MN
Sun Jan 29, 2012
It is a tough market to sell maybe offer rent to own or owner financing that is a great way to sell or rent your home.. you may post it for free on the below site
0 votes
Paul Rosales, Agent, Wichita, KS
Sun Jan 29, 2012
I would agree with Briana & Bud. They make valid points. If you do decide to put your property on the market, keep in mind exposure is a major factor. I am rolling out a brand new TV show designed to give my listings a incredible amount of exposure. It is geared towards selling homes in our local Wichita market. I would love to feature your home on my show. Each home I list gets hundreds of airings devoted to getting that home sold. The show will air every day of the week on 5 different channels. It will provide your house with massive amounts of exposure. Please don't hesitate to let me know if you would like to have your house featured on my brand new show. I can be reached at 316-550-HOME (4663)
Web Reference:  http://WichitasMLS.com
0 votes
Brianna Bran…, Agent, Wichita, KS
Sun Jan 29, 2012
Now is a great time to sell! Listing inventory is down so your property is getting seen more by other realtors and potential buyers. Buyers are actively looking no matter what time of the year it is!! Interest rates are at a
low and will continue to stay that way for awhile. People are taking advantage of that! I would encourage you to put your house on the market as soon as you are ready!

Give me a call at 941-6788 to get a free market analysis of your home!
0 votes
Alain Picard, Agent, Puyallup, WA
Sun Jan 29, 2012
In my opinion you should probably wait to sell because now is really not a sellers market in most areas.
0 votes
Fran Lazerov, Agent, Indianapolis, IN
Sun Jan 29, 2012
Depending on the market in your area, it really doesn't make much difference when you sell. If the market is down for sellers, then those sellers when they buy will reap the benefits of lower prices from the owners of the homes they buy. The market usually picks up in the midwest around early spring because more houses go on the market, but there are also more buyers out looking. Basically, I consider it a wash. Whenever it is most convenient for you is the best time to make your move. Interest rates are very low right now, so it would be a good time. If you are planning a move to the Indianapolis area, I will be glad to assist you. Fran Lazerov, CRS 317-590-5081
0 votes
Bud and Sara…, Agent, Wichita, KS
Sun Jan 29, 2012
It depends on what you are waiting for. If you are waiting for the market to come back or prices to go up, you could be waiting for a while. Also, if your house price is increasing, so will the home you buy. This really is a good time to sell and buy. Having bought your house in the last 5 years, you probably will not realize any profit on it but you could also get a good deal on your purchase. If you would like more information, please call Bud at 316-708-4681.
Web Reference:  http://cortnercrew.com
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more