Have you been thinking about selling your property? Unlike buying and selling stocks, your home carries a ton of emotional baggage, so it is not simply a matter of buying low and selling high. If you really look at it, selling a home is never a market-driven issue. It is a lifestyle decision and a major one. Your cherished home has seen you through a lot, but is it really time to move? There is so much history packed inside those four walls. How to know when to sell your house isn't an easy decision to come to. It can be hard to know when to take the plunge. You do not need to sit on the fence any longer. Read the points below to gauge your situation so you can have full confidence that you are ready to sell your home.
1. Nothing fits
Did you buy your home when you were single, foot-loose and fancy-free? Did you start your family after buying your home? Has your family now outgrown your current home and you feel a lack of space? The number one reason why people sell their home is that they have outgrown the space because their family is getting bigger. On the reverse, many homeowners are choosing to sell once their children have grown up and moved out of the large, once-bustling family home. It doesn't make sense for empty-nesters to manage the upkeep anymore.
2. Lifestyle changes
Lifestyle shifts are compelling you to relook at your living space. If your home no longer suits your lifestyle needs and you do not find the location desirable anymore, it may be the right time to sell your house. Children’s growing needs and education can also be a factor to consider.
Whether you are looking at good school districts, there comes a time to reconsider your current location and look to places that best serve your child and his education.
3. The current state of the Real estate market
The real estate market seems hospitable to sellers. Your neighbour has sold their house for a good amount. You discover that you are in a seller’s market and you have become interested in selling your property. Get in touch with a good real estate agent in your area to get a feel for how much your home is worth and whether selling might be a good outcome for you.
4. Your home renovation won’t add to return on investment
If you are thinking of remodelling your homes so it suits your changing needs, consider whether it will give you the desired ROI. Would a renovation add value to your property or will you lose money in the long run?
Have you been toying with the idea of a new, modern home or gazing at properties you imagine yourself living in? Are you emotionally ready to cut the ties with your current home?
If you’re considering selling, ask a good real estate agent to run a free comparative market analysis (CMA) for the best estimate. Hiring a real estate agent would be beneficial if you are not confident about the process. They will handle all the nitty-gritty details, so all you need to focus on is the sale. A good real estate agent will listen to you and be able to advise you of the best outcome you can achieve. They will be able to help you put together a plan for selling and outline all the steps you need to take to get your house listed.
Selling your home is an emotional and stressful process. Understand the complete process and give yourself time to mentally prepare for all the steps it will take.