Myths About Home Ownership Savings in Taylor, TX
If you purchased a home because you thought you were going to be able to save money – or even make money – you may have gotten a rude surprise when you realized that wasn’t the case. It’s time to clear up your false ideas and consider whether it may be better to sell your home instead of hold onto it.
Myth 1: House Prices are Rising
In many areas of Texas, and the rest of the nation, housing prices are on an upward trend, and you may have assumed the same would be true for your area of Texas as well. Unfortunately, homes prices in Taylor, TX are actually dropping. The data shows a 3% drop1 in week over week average listing price. With the general trend being that prices are going down, it’s better to get out now and sell your house fast in Taylor, TX before the prices go down further and you lose money.
Myth 2: House Demand is High
There are many factors that work against Taylor, TX when it comes to housing demand, and many people do not choose to live there. Currently, 61 properties are on the market, but it is more commonly a rental town, where students from nearby colleges rent housing to go to school. As such, these individuals aren’t interested in purchasing a home, and currently nearly 50% of the city’s dwellers are in rental properties2.
Myth 3: You can Create a Rental Property
While you may have planned to turn your home into a rental unit to make extra money for yourself and to support the high number of renters in the area, there are specific regulations3 that you must meet in order to do this. In many cases, you must live on your property for a certain amount of time first, and the application process can be long, meaning it may be a few years before you see any income from renting your house. Knowing that many of these homeownership savings promises were myths, it’s time to make a plan to sell your house fast in Taylor, TX. Lucky for you, HomeGo is ready and waiting to make your sale and will take the property off your hands, stress-free, and let you go back to saving your money the way you had always hoped for.