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Selling A House In Pennsylvania – Bankrate.com

If you’re thinking about selling your Pennsylvania home, you’ve picked a good time. The state’s housing market is currently tilted heavily in favor of sellers, according to data from the Pennsylvania Association of Realtors. W…….

If you’re thinking about selling your Pennsylvania home, you’ve picked a good time. The state’s housing market is currently tilted heavily in favor of sellers, according to data from the Pennsylvania Association of Realtors. With available inventory at 3.2 months worth, buyers have slim pickings. That shortage has helped fuel higher prices, too: The state’s median sale price was just over $219,000 in July 2022, a 10.6 percent increase from the same time just one year earlier.

However, selling your home here won’t necessarily be easy. Read on for everything you need to know about getting your listing ready, maximizing your home’s value and budgeting for the costs of selling a house in Pennsylvania.

Are you ready to sell?

Selling a home comes with a big question: Where are you going next? As you try to determine whether to sell now or wait, you’ll need to think about the challenges you may face as a buyer. Use Bankrate’s cost of living calculator to get a sense of what kind of lifestyle your income will be able to afford you in any of the new places you’re thinking about.

Additionally, consider what your space needs will be in a new home. If you’re downsizing, you may be in good shape. If you’re looking for a similar-sized property, though, keep in mind that housing prices have been increasing everywhere since the onset of the pandemic. So, if you’re trying to sell your house while buying another, you’ll need a solid plan in place. What will you do if your current home sells before you find a new one? Are you willing to pay extra costs for a short-term rental, or to ask the buyer to let you stay longer? And what if you find your new dream home but still don’t have a buyer lined up?

Once you have these questions answered, it’s time to get ready to sell.

Preparing to sell

Your home in Pennsylvania may have worked for you and your family, but what will prospective buyers think? Ask yourself these three questions before you list.

1. Is it worth upgrading your home before you sell?

If you’re thinking about making a major renovation in the hopes of selling for more money, think twice: Even the best home improvements don’t recover their full costs at resale. For example, if you spend around $28,000 on a kitchen remodel, you can only expect to recover around $20,000 when you sell, according to Remodeling magazine. With that in mind, it’s better to consider some cheap fixes that can increase the value …….

Source: https://www.bankrate.com/real-estate/selling-a-house-in-pennsylvania/

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