Five Telltale Signs It’s Time to Sell Your Home
Deciding when to sell your home is one of the biggest financial decisions you'll make. While there's no perfect formula, certain market conditions and personal circumstances create ideal selling opportunities — but you may have to balance them with other considerations.
Here are five key indicators that it might be time to put your house on the market.
You’ve Outgrown Your Space
Maybe you’re growing your family, or one or more people have started working remotely. Or perhaps you’re just ready to spread your wings and give yourself a little more elbow room. Unless you have the ability to expand your existing home, it may be time to move on to the next one.
Depending on how long you’ve been in your home, and on market conditions, the sale of your existing home may afford you some key equity that can help you leg up your space. But remember, if the value of your home is on the rise, it’s probably true for others as well. Check with your financial professionals and lenders to truly understand what your equity and assets can buy you.
You’re Ready to Downsize
Your house was a perfect fit when you had three kids at home, but once they’re off to college and beyond, it may seem a little excessive. No matter the reason to downsize, it’s a common event in many people’s real estate journey.
On the upside, it’s more likely that the equity from your larger home will help in your next purchase considering it’ll be smaller. Many people also use this as an opportunity to move closer to city centers to enjoy access to shopping, restaurants, and cultural attractions.
You Want to Move to Another Area
Your home was in a perfect spot when you bought it, but things have changed. Maybe you’re tired of being in an HOA, or the area has become overdeveloped, or you just took a job in a different region. Whatever the reason, this is the time to make the move.
Working with us, we can help you find the right home in your desired area, and make this important life transition smooth and pleasant.
Your Local Property Values Are on the Rise
Suddenly, your neighborhood has become a hot spot, and homes are selling for significantly more than before. There’s a good chance this increase in value applies to your home, too. But even in a hot market, not all property values rise similarly.
We can help you by creating a Comparative Market Analysis (CMA) that selects the properties most comparable to yours, and extrapolate a likely sell price based on location, features, and other characteristics.
If the numbers look good to you, we can help you prepare and sell your home at your convenience.
The Cost of Remodeling is Greater Than the Cost of Moving
If you’ve been in your home a long time, it might be time for a refresh. There are affordable ways to give your home a little facelift, but over time, some things just show wear and tear.
Kitchens and bathrooms are the most common targets of major remodels, but less sexy things like exterior siding, plumbing and electrical may eventually need attention, and it all adds up. Plus, living through a major remodel is disruptive and stressful.
We can help you run some numbers and determine whether it’s a good idea to invest in your existing home, or cut ties, buy a newer home, and leave the problems for the next owner.