Low inventory conditions persist in the Long Island housing market. If you’ve been thinking of moving this fall but aren’t sure if it makes sense to sell your home, stay, or rent it out, we’ll help you work through the potential upsides and downsides so you can make the best decision.
For more personalized help, reach out to us at the Pesce & Lanzillotta Team today!
Selling Your Long Island Home
Despite a lack of available homes, we’ve helped many sellers make a move this year already. Who you work with always matter, but in a market with few homes for sale you need an agent who is not only diligent and determined, but who has the network and contacts to find your next home opportunity. Our award-winning team is a leader in Long Island real estate, representing sellers and buyers from entry-level properties to luxury homes. We pride ourselves on the strong connections we’ve made with other agents, vendors, and community members. If you want to move but aren’t sure if you can find a suitable replacement property, let us show you what we will do to make it happen!
Renting Your Long Island Home
Instead of selling your Long Island home, you might be thinking of renting it out for a year or two while you wait for the market to change. Renting your home can be a viable strategy, particularly if you think there’s a chance your needs will change again in the future. Sometimes work or family call our clients away from Long Island, but when those obligations are done, it can be nice to know your dream home is still waiting for you.
However, renting does come with some downsides. You’ll need to decide if you want to manage your rental yourself or hire a property management company, which comes with a management fee attached. In addition, you’ll need to ensure you can rent your property at a high enough rate to offset your mortgage and upkeep expenses for that home while you secure a second property for yourself to live in.
Staying in Your Long Island Home
Not sure about selling your Long Island home, but don’t want to rent it out either? If your property isn’t meeting your current needs and you have some extra money to invest, you might think about remodeling your home instead of selling. Home additions are a popular choice for people who feel their home is too small. If your property is too much upkeep, you might think about changing your landscaping to more hardscape or other low-maintenance options. Hate that your principal bedroom is upstairs? A room conversion on the main level may be a great option to explore instead of selling your home.
If you need a referral for a local contractor, get in touch – we’ve worked with some great professionals in the Long Island market that we would be happy to recommend.
We are here to help you with all your Long Island real estate needs, whether selling, buying, or investing. If you’re not sure what move makes the most strategic sense, let us help. Click here to contact us or give us a call anytime!
The Pesce & Lanzillotta Team, at BHHS Laffey International Realty
Office: 516-888-9711
Email: info@pl-team.com
