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If you’re a homeowner considering selling your home as an investment property, timing is important. From a financial perspective, just as you probably bought strategically, you want to sell strategically too. The trick is knowing when the right time arrives. Here are four common metrics people use to determine when it's time to sell their property.

Amount of Equity in the House

A primary factor to look at is how much equity is in the home. Ideally, to sell a home as an investment, the seller can make a tidy sum. If mortgage payments are still owed, this may negate any potential profit made, but not necessarily. If you're looking to broaden your investment portfolio, be certain you can sell your house for enough money to pay off your debt with a sufficient amount left over to re-invest. If you don’t have enough equity to do this, you’re better holding off.

Market Conditions Are Good

Many owners who bought low and can sell high find this to be a strong motivator to put their property on the market. Since market conditions eventually shift to a buyer’s market, it’s a smart strategy to sell when the housing market favors the seller. Owners who have held their property for a long time or purchased as the housing bubble burst between 2007-2012, are likely going to make a better profit than investors who purchased when prices were at their peak.

Tax Code Advantages

Buyers are often motivated to sell if there are tax code advantages. For instance, the IRS currently offers a tax-deferred advantage to investors looking to sell one property to buy another. Under tax IRC Section 1031, sellers are required to find another property to purchase within 45 days and then buy it within 135 (180 days total).

By selling and making a similar real estate investment, investors can defer paying their federal and state capital gain taxes. It’s a good strategy to use if you want to leverage real estate and broaden your portfolio.

Taxes Are Going Up

If local taxes are going up, often buyers find this to be an incentive to sell. For instance, if a town severely limits commercial activity, the tax burden falls to homeowners. Over time, the tax bill may become too exorbitant. If you own enough equity in your property and the housing market is in your favor, high taxes might be your tipping point.

A successful homebuying experience is a pipe dream for many individuals. However, those who understand the key attributes of a successful homebuyer may be able to transform their homebuying dreams into realities.

Now, let's take a look at three key attributes of successful homebuyers.

1. Persistent

A successful homebuyer won't take "No" for an answer; instead, this individual will go the extra mile to ensure he or she can acquire a great house at a budget-friendly price.

Ultimately, a successful homebuyer is driven to accomplish his or her goals. This individual's persistence is distinct, and as such, may help him or her achieve the optimal results.

To be persistent throughout the homebuying journey, it generally is a good idea to monitor the housing market closely. Because if you keep track of new homes that become available in cities and towns where you want to live, you can pounce at the opportunity to acquire your ideal residence.

2. Data-Driven

A successful homebuyer likely realizes that he or she needs to learn about the real estate sector. Therefore, this individual will allocate the necessary time and resources to analyze housing market data.

With a data-driven approach to buying a house, a homebuyer can increase the likelihood of a seamless homebuying experience. In fact, myriad housing market data is available to help a buyer discover the perfect house in no time at all.

Homebuyers may want to assess the prices of recently sold houses in their preferred cities and towns. This information can help buyers differentiate between a buyer's and seller's market and map out the homebuying journey accordingly.

Furthermore, examining a personal financial data may be helpful before kicking off a home search. And if a homebuyer collaborates with a bank or credit union, he or she can get pre-approved for a mortgage and enter the housing market with a budget in hand.

3. Patient

A successful homebuyer understands the challenges associated with purchasing a house. As a result, this individual can take the right steps to avoid such challenges as he or she proceeds along the homebuying journey.

For example, a successful homebuyer won't feel stressed if he or she encounters problems during a home inspection. Conversely, the homebuyer will look at his or her options and determine the best course of action. And if this individual decides to walk away from a home sale, he or she will feel good about reentering the housing market and beginning a home search once again.

When it comes to enjoying a successful homebuying experience, it pays to hire an expert real estate agent as well. This housing market professional can help you evaluate a wide range of houses and find one that matches or exceeds your expectations. Then, a real estate agent will ensure you can put together a competitive homebuying proposal to secure your dream residence.

Consider the key traits of a successful homebuyer – you'll be glad you did. If you strive for success at each stage of the homebuying journey, you should have no trouble acquiring your dream residence.

For those who want to enjoy a successful home selling experience, identifying your target buyer is key. Because if you understand why buyers may choose your residence over other available houses, you can promote your home to the right groups of buyers. And as a result, you may be better equipped than ever before to streamline the house selling journey.

Now, let's take a look at three tips to help you identify your target buyer so you can promote your house effectively and speed up the home selling process.

1. Consider the Buyer's Perspective

Think about why a buyer should choose your residence. Then, you can find ways to promote your house's features to the right groups of buyers.

Ultimately, a home listing can make a world of difference, particularly for those who want to engage and inform prospective buyers about a residence. If you analyze the buyer's perspective, you can craft your house listing accordingly.

For example, if your residence is located just minutes from top beaches, you may want to include this information in your home listing. On the other hand, if your home offers multiple bedrooms, you may want to include high-resolution photographs of these bedrooms in your listing to show off the size and beauty of your house.

2. Conduct an Inspection

A home inspection generally is completed after a seller accepts a buyer's offer to purchase his or her house. But when it comes to identifying your target buyer, you may want to conduct an inspection prior to listing your residence.

During a home inspection, a property expert will examine your residence and offer insights into any underlying issues. You then can prioritize home upgrades, and as such, make your home more appealing to potential buyers.

With a home inspection, you may be able to gain insights into your residence that could be difficult to obtain elsewhere. Thus, if you perform an inspection, you can find ways to improve your residence so you can make your house an attractive option to dozens of prospective buyers.

3. Consult with a Real Estate Agent

If you are unsure about how to target buyers, you may want to collaborate with a real estate agent. In fact, if you have a real estate agent at your side, you can receive expert home selling advice any time you need it.

A real estate agent understands the challenges commonly associated with selling a house and can help you address such issues. First, he or she will develop a personalized home selling strategy and help you showcase your residence to the right groups of buyers. He or she next will host home showings and open house events. And if you receive an offer to purchase your home, a real estate agent can recommend whether to accept, reject or counter this proposal.

Devote time and resources to learn about your target buyer – you will be glad you did. If you use the aforementioned tips, you can identify your target buyer and map out a successful house selling journey.