Selling your home may be something you’ve been considering for a while or maybe an event has occurred that has prompted you to sell. Either way, listing your home is a big decision and if you’re wondering if now is a good time, take a look at these signs and decide for yourself.
It’s a Seller’s Market
This may be an obvious reason in today’s market but being in a seller’s market means you could stand to make a nice profit on your home. Pay attention to what other homes in your neighborhood are going for and see if the price of square footage is increasing. This could be a good indicator of what your home could go for. Getting in contact with a good real estate agent that can help guide you and assist you in getting a good deal is also an important step!
You’ve Outgrown Your Home
A common reason for moving is simply that your home no longer provides the space you need. Whether your family is growing, or you need more storage, selling may be the only solution. These situations can cause you unwanted stress so listing sooner rather than later might be best for you!
You Have Equity in Your Home
A good reminder here is that selling your home is not free, however the equity that has accrued since purchasing your home will be useful when selling. There are closing costs, agent fees, and of course, the down payment on the purchase of your next home. If you’ve only been in your home for a few years, chances are good you haven’t built up equity beyond the down payment. Unless there is an immediate need to move, staying in your home for at least 5 years could allow for more equity to accrue before selling.
Your Life Circumstances Have Shifted
Inheriting a property, divorce, death, and needing to relocate are all potential life events that can place you in a position to sell as soon as possible. These sudden life changes can put pressure on you but it’s important to still take the time to research your local market and the area you plan to move to before jumping in.
For more information or resources, reach out to one of our qualified Loan Officers today!