Your House in Philadelphia
Are you pleased with your house in Philadelphia? While there are several upsides to homeownership, as with everything in life, there is always a cost to benefits. Over time, circumstances can change, meaning that what may have once made your dream home is an asset no longer serves you. We will explore these five ways to know your house in Philadelphia is more trouble than it’s worth & methods to sell house fast!
Taxes or Fees
Property taxes may rise dramatically, depending on real estate market fluctuations, and could outpace any increase in your income over the same period. Another expense that may be unplanned is tax assessments or homeowners’ association (HOA) fees for special projects, which can be extremely expensive. If you find that it costs you a lot of money to own your property because of these fees or taxes, your house in Philadelphia is likely more financial trouble than it is worth.
As homes age, the progression of house repairs usually increases in both frequency and expense. Eventually, major systems and appliances wear out between the effects of time and wear and tear. Depending on the age and condition of the major structural elements, you could be facing thousands in structural or foundation issues or even plumbing or roofing repairs. At the same time, the home decor usually needs at minimum touch-up, if not a complete home update. You may even need to consider significant remodeling. If you are facing a lot of home upgrades and repairs, your house in Philadelphia is probably much more trouble than it’s worth.
Maintaining a home can become extremely burdensome, significantly, if your circumstances change. While you may have had the time or the ability to handle the responsibilities of caring for your property when you purchased your home, it may have become physically or financially impossible. Allowing routine house maintenance to be delayed for prolonged periods can mean thousands of dollars in damage to your home. Should an issue such as an overgrown tree cause damage from falling limbs, you could also be facing legal fees and penalties. Depending on the size of your property, hiring help could be quite costly as well, meaning your house in Philadelphia is more trouble than it’s worth.
Downsizing or Upsizing
If your home isn’t working for your current needs, your house in Philadelphia is more trouble than it’s worth. As time passes and families grow, they often find the house that worked perfectly when purchased has become much too small. Later in life, homeowners usually prefer to live in and maintain much fewer homes as they focus on retirement. In either event, when your home doesn’t suit you, it’s time to move on.
Difficult to Rent
If you can afford to hold the property, turning it into an investment as a rental property, your home could become a dependable source of monthly income. However, suppose your home is not in what is considered a good location in Philadelphia, which would be desirable to tenants. In that case, finding good tenants may be difficult, if not impossible. Should you find yourself in this situation, your house in Philadelphia is more trouble than it’s worth.
Would you like to prevent paying for these and other expensive costs homeowners face when their homes in Philadelphia no longer suit their lifestyle? You can avoid these and many more unexpected expenses by selling property directly to Buying Property 215! Please call us today at 215-359-6090 to discuss these and other reasons why your house in Philadelphia may be more trouble than it may be worth. To learn more about ending your burdens of unwanted property, send us a message or give us a call today! [215-359-6090] (Buying Property 215, family-owned real estate company with an A+ rating by the Better Business Bureau!)