Here's What You Need to Know About Selling Your Home
If you're questioning whether or not to sell your home, there are several things to consider to pinpoint when the time is right.
Here are four ways to tell if it’s the right time to list your home on the local real estate market.
Changes in your housing needs
A lot has to do with you. If your current place is too small now that you have kids or a relative has come to live with you, it would make sense to find a home that better suits your space requirements. Also, your reason for the move could be that your property is in an inconvenient location or the neighborhood no longer fits your needs. Whatever your situation, take all these things into serious consideration.You’ve got some equity in your home
Equity is the value of your home when home loans are deducted. If you have a negative equity or you’ll be required to pay additional money out of your pocket to close the deal, it could be a good idea to wait until your home increases in value. The good news is that homeowners are building equity and in a few years, your home could be worth more than you owe.You’re in a seller’s market
This basically means that there are more buyers than available homes, which gives sellers more control during negotiations. If you live in an area where land is scarce, building isn’t cheap, or houses aren’t sitting on the market for long, then it’s a great time to sell. Buyers are going to great lengths to win houses, so there's a possibility of selling your house for over the asking price.You can afford to move
If you’re planning to buy your next home, you’ll need to make a down payment and apply for a mortgage. Also, there will be moving expenses which will depend on the distance to the next home. If you have enough funds and are in a good position to buy a home, pay for additional expenses, and still have some savings, the time is ripe for to put your home on the market.
Homes are selling quickly and at record prices. If you’re contemplating selling your home, this could be a great time to give yourself the go-ahead.
When you're ready to start your selling journey, I'm here to help. Contact me with questions and concerns, and we'll set up a time to get you started down the right path.
