If you’re thinking about making changes to your home, there’s something important to consider. Instead of refinancing, you might want to think about selling your home in San Antonio. Let’s go over five reasons why it is better to sell than refinance your home in San Antonio.
Equity
Equity is like the part of your home that truly belongs to you, without any loans or other financial stuff attached to it. When you first buy a home, you should think about what you’ll do with it in the future. It’s smart to update your plan based on what’s happening in the housing market. This way, you can sell your home when prices are high and get the most money from the value you’ve built up over time. If you wait too long, you might miss out on this opportunity and lose some of the value. That’s why, in many cases, it’s a better idea to sell than refinance your home in San Antonio.
Changing Needs
Imagine you bought a small starter home, and now your family has grown, and the house feels too small. Instead of trying to fix it up or add more rooms, it can often be easier and cheaper to buy a new home that fits your needs better. Big renovation projects can uncover serious problems that cost a lot to fix, especially if your current home is older or in bad shape. By moving to a new place, you could save thousands of dollars and lots of time. Plus, when you sell directly to Lone Star Real Estate Solutions LLC, you can skip things like inspections and appraisals.
Current Income
Sometimes, your income can change suddenly, and you might find it hard to pay for your home. If this change looks like it’s going to stick around, it might be better to sell instead of refinancing. Refinancing might just delay the problem, and it’s often better to deal with it sooner. By selling now, you can pay off your current mortgage and move to a more affordable home. This can also lower your yearly property taxes, saving you even more money in the long run.
Debt
Life can throw some unexpected financial challenges at you. If you find yourself facing a lot of debt, instead of taking on even more debt through refinancing, you might be able to pay off your debt by selling your home. You could still have some money left over to buy a less expensive place to live. Having too much debt can hurt your credit score and make it tough to borrow money at reasonable interest rates. If a lender does give you a loan, you might end up paying a lot more in interest, and that’s money you could be using to build up the value of your home over time.
Credit
If you’ve missed payments or paid them late, it can really hurt your credit score. As time goes by and your credit gets worse, your credit rating goes down, and some of your creditors might charge you more interest on the money you owe. This is especially true if you’re getting close to foreclosure, which is when you lose your home because you can’t pay for it anymore. Facing these problems head-on and taking quick action is super important. Foreclosure is really tough both personally and financially, and it stays on your credit history for seven years.
So, in a nutshell, it might be a better idea to sell directly to Lone Star Real Estate Solutions LLC right now than refinance your home in San Antonio. Whether your reasons are financial or because your home just doesn’t fit your needs anymore, selling now can put you in a better spot. When you work with Lone Star Real Estate Solutions LLC, you don’t have to wait around for the perfect buyer with the perfect offer. Our professionals at Lone Star Real Estate Solutions LLC can help you through the whole process. We listen to your needs and explain every step of the way. We’ve helped many other people in similar situations, and our team is ready to handle everything for you, from the start to the final closing day. So why not let Lone Star Real Estate Solutions LLC answer your questions and help solve your problems? Just send us a message or give us a call at 210-794-6869 today!