This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

How to Decide How to Sell or Keep Your Home This Spring

NEW YORK (TheStreet) -- It's coming on the spring home selling season, the most active period of the year for single home titles changing hands, and this year the outlook for home sales growth is up across the board. Single-family homes, townhouses and condominiums are all expected to see stronger sales in 2014.

Many homeowners now have to ask themselves: sell or keep their homes?

The answer involves everything from downsizing -- a huge issue since the recession -- to job stability, divorce, age of children and retirement.

Norfolk, Va.-based Homes.com offers a few key issues to mull over before you make such a decision.

Sell:

Size matters. The size of the home may be an owner's biggest and most urgent reason to sell. "If the main concern about a home is size, a more affordable, less stressful option may be to sell and find a home with enough space to accommodate the family," Homes.com says.

Overwhelming maintenance. For older homes (15 years or more), big maintenance projects may be necessary. A new roof, for example, can cost anywhere from $5,000 to $30,000, Homes.com estimates. If you don't have the money for big repairs, your home will suffer in terms of financial value, making it much more difficult to sell.

Stay ahead of other sellers. Homes.com says the real estate market is set to take off, and the earlier you sell the less competition you'll face. "If anxious to sell a home, some homeowners, depending on location, may be able to take advantage of what is considered a seller's market," the firm says.

Stay:

Equity rising. If you expect the equity in your home to rise substantially, that's a good reason to keep your home, Homes.com advises. "Year-over-year growth reached 8% at the end of 2013," the firm says. "Homeowners already in love with their place should continue to enjoy the comforts of home and reap the benefits of increased equity when the time does come to sell."

If you can afford repairs. Home projects, maintenance and repairs can add good value to a home -- and make it much more livable. So if you can afford to make those repairs, make them -- and make your home "new" again.

You like your location. If you like where you live, including the schools, your neighbors, your community and your commute to work, that's another excellent reason to keep your home. "Many factors play into the decision of selling or staying in a home, oftentimes going beyond money and the economy," advises Homes.com.

Homes.com also says patience is a key if you are looking for a better home.

"If the perfect home is not on the market, don't settle for a home that isn't just right, especially if the current home is not unbearable," the firm says. "When the time is right to buy, the perfect home will be waiting, and with the potential for increased equity in the current home, it may be even easier to afford."

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs