The Cost of Ownership: What Your Indianapolis Property Is Really Costing You

So, you’ve found yourself holding onto a property that you really don’t want but don’t seem to be able to sell? Your property is quite literally is holding you as well. The cost of ownership associated with keeping that unwanted house can hold you back and prevent you from achieving your dreams. As time passes, it’s important to understand the true cost of ownership. 

Your home is likely one of the largest investments you will make and when it comes time to sell, there are many factors to take into consideration. You’ve likely invested even more for any necessary renovations, repairs and staging to list your home, only to find the ongoing costs involved in holding the property are eating you alive!

Not to mention the hassle of living around showing appointments, cleaning the potential COVID-19 every time someone wants to walk through, and having your time wasted by unqualified buyers and people just looking to get ideas for their own home!

Stop The Costs

While it’s pretty common for some houses to be listed and sold within hours or days, many properties end up sitting on the market for months or even years. The longer a home is on the market, the lower the price that is usually realized at the sale and the costs of ownership continue on as well, all conspiring to reduce or eliminate your eventual profits.

Why not sell to us now and save yourself from what can become a sinking ship of unexpected risks and expenses? If your house was going to sell in hours or days, you probably wouldn’t be reading this right now. Don’t sweat it – we can help to end the deafening sound of silence when it comes to getting offers on your Indianapolis property.

What Owning A House Is Costing You

The financial responsibility of keeping a home on the market can be devastating as time passes. Some of the basic costs involved include mortgage, insurance, and taxes. Many factors can influence the bottom line on these numbers, including variable interest rates or balloon payments, time of ownership, and market changes which can affect the equity you had hoped to realize on your Indianapolis property. 

Utilities, upkeep, and maintenance are ongoing; most especially when your home is listed for sale and are of utmost importance to attract buyers. These same costs of ownership can also drown you in unexpected expenses, especially if you have an older home or older mechanical systems in your home.

Vandals

I bet you didn’t even think about this one being a potential cost of ownership, but if your home is sitting empty because you’ve already moved, it may be an attractive target to vandals and thieves and is yet another possibility of extra costs you may incur based on your decision to sit on your Indianapolis property as well. Even just putting an alarm or paying a property management company to check on your house could add hundreds of dollars a month to your expenses for the house. Also, let’s not forget that you need to have special insurance on your property if its vacant. Failure to do so could result in an insurance claim being rejected if your insurance carrier finds out the property was vacant when it was damaged.

Considering all of the variables in the financial and housing markets, COVID-19, the costs and risks of maintaining an empty home and life changes that can contribute to the bottom line, these factors can severely deplete what you earn on your investment, let alone unexpected repairs or outright theft or vandalism. It’s clear to see that time truly is of the essence. You can be sure time passing equals more costs to you. 

In closing…

When you consider all of the risks, inconveniences, the costs of ownership, and what your Indianapolis property is really costing you in the long run, it makes sense to let us purchase your property in Indianapolis, relieving you of the financial responsibility and risks. If you’d like to see more and calculate your own costs of home ownership, try this neat tool we found!

Call 317 Home Buyers today at 317-449-8605 or send us a message to get a better understanding of your true cost of ownership! 

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