There are many reasons that you may want to sell your home on Long Island today. Though it certainly isn’t getting easier.
A new report from Newsday claims that many who have moved to Long Island in the past few years are now having buyer’s remorse and want to leave. Multinational hedge fund manager Ken Griffin warns that high inflation could continue to last for decades, making it even harder for those already struggling with the high costs of living here.
Unfortunately, high living costs, and other factors, as well as high interest rates are making it harder and harder, for those who do want to buy homes here. That makes it even harder for you to sell.
If you haven’t had much joy in trying to sell your property on Long Island consider these tips…
- Convince Your Neighbors To Improve Their Curb Appeal Too
We’ve all heard that improving curb appeal is one of the most important things you can do when it comes to trying to sell a home.
Of course, no matter how great your home looks from the outside, it can all be a waste if your neighbors’ yards or front entrances are a mess.
Whatever you have to do to convince them to clean up or spruce up their curb appeal while you are trying to sell is worth it. Even if you have to do it yourself, or pay them.
- Get Your Property Taxes Reduced
Long Island is notorious for its high property taxes. Which can be one of the top turn offs for potential buyers.
They add a lot to the cost of buying and owning a home here. Worse, they can vary widely between competing and neighboring homes. Simply because some have not challenged their property tax bills, and exercised their right to appeal, and get them reduced. Make sure you have.
- Sell Your Property With An Assumption
If you have an assumable mortgage loan a buyer may be able to take over your existing loan. This can greatly reduce their purchasing and finance costs, while giving them a far lower than current market rate interest rates and payments. This is highly attractive.
- Sell With Owner Financing
Even if you don’t have an assumable mortgage loan, or own your property free of a mortgage, you can act as the lender and finance a part of the purchase price to a buyer. This may pocket you a better rate of return than you’ll get elsewhere on your money, can make it much faster to sell, and help you sell for more.
- Gift It To Charity
Do make sure that you consult your tax professionals for personalized expert advice before doing this. Though, if you simply cannot sell, but do not want to hold onto the property, you may still find a tax break in giving it to charity.