Waiting To Sell Your House in Long Island Can Cost More Than You Think

Waiting to sell your house in Long Island NY can end up costing you a lot more money than you think. Learn how much in our latest post!

Many people don’t realize just how much their home is costing them. These costs are even more brutal if you don’t like the home you’re living or the investment property you own. Spending thousands on a house each month that isn’t right for you simply doesn’t make sense. Keep reading to explore just a few of the costs you are stuck by waiting to sell your house in Long Island, NY

Your Mortgage

The average mortgage in Long Island costs homeowners over $3,000 month with homeowners insurance and property taxes. Over the course of several months, this can amount to thousands of dollars you are spending out of pocket just to continue owning an unwanted or unnecessary home that you may not be truly happy with. With a $3,000  mortgage, in just 6 month  you will pay $18,000 to the bank, insurance company and the tax assessor. Besides the little bit of equity you may gain in paying down your mortgage, most of this money will be gone forever.

Why continue throwing your money at an unwanted property when you could be using it for something you truly love?

Homeowners Insurance

Depending on your house and where you live (flood zone?), your insurance rate can range from $150 as a baseline to a couple thousand a month for homes larger homes in flood zones! . When you add this to all the other costs you face as a homeowner, you may be surprised at how high your bills really are.

Property Taxes

As a Long Island homeowner, you are responsible for the property taxes for the home up until the day of closing. Keep in mind, property taxes vary widely by state, but you break it all down, you are probably looking at close to $1000 dollars each month for most homes on Long Island. With a direct sale to CoMax Properties, your property tax obligation could end in a few weeks as opposed to months down the road.

Maintenance and Repairs

You may not realize what all those trips to Home Depot are costing you each month. Routine repairs, cleaning costs and landscaping needs can all add up fast. The cost of repairs and regular maintenance is surprising to many homeowners, especially when they total everything up, seeing their costs in black and white. You might be very surprised to see how much you are really spending to own your house in Long Island, NY. Oh and don’t forget about the cost of your time, to fix, repair and maintain your home.

Utility Bills & Other Fees

Whether you are living in the house or not, you will still be facing utility costs each month. Electricity, water, gas will all need to stay on until the house is sold. This could mean doubling your utility bills if you are living somewhere else. In addition to utilities, many some homeowners have to pay HOA fees or property management costs.

Opportunity Loss

What are you missing out on by continuing to hold on to your unwanted property? You could miss out on your dream home or a more lucrative investment. If you decide to list your house in Long Island, the process can take 6 months or longer. Maybe you could use the cash from a home sale to finally get rid of the crippling debt and large monthly interest payments. That is an investment in and of itself. Working with a real estate agent provides no guaranteed closing date. Even if your neighbor’s house sold quickly, yours could be on the market for months. Start saving money now!

Frustration, Stress, and Anger

What’s the point in letting a frustrating house stress you out? Sometimes we find ourselves in difficult situations just because we have become so used to them. Maybe the roof always leaks or the house doesn’t stay warm in the winter. The truth is, you don’t have to deal with it anymore. With a direct sale to CoMax Properties, you’ll be able to end all of your worries and frustrations regarding the property. You will be able to sell your house for a great price no matter what condition the house is in. You will immediately be able to end the stress, frustration, and anger so you can move on fast.

Learn more about what hesitating to sell your house in Long Island is costing you, contact us today! (516) 704-7025

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