Thoughts of putting your home on the market and moving up, down, or out of dodge all together have probably crossed your mind over the years. Choosing to sell is a big decision, a decision that requires careful consideration to a variety of factors, both lifestyle and financial. To help you think through your decision, here are 5 signs that it is time to list your home.
You have outgrown your space: This is typically the number one reason that gets people thinking about a move. Are kids outgrowing shared bedrooms, have you had a new baby, do you have an elderly parent coming to live with you, maybe you have taken a virtual job and need a home office? These are life events that can require more space.
Your neighborhood is booming: While home sales and values are improving at a healthy yet gradual rate on a nation level, maybe you are in the middle of a “hot market”. If you notice that homes in your area are selling quickly, contact your local Realtor and find out about the market and ask to see some comparable sales. If homes are selling above list price and you have been on the fence about selling your home, now might be the time to take the leap.
You are letting things go: Remember when home improvement projects and landscaping chores were fun? Well, if that is a distant memory and your grass is knee high and your porch railing is rotting, this may suggest you are ready for a low-no maintenance lifestyle. Consider that the longer you let things go, the more money you will need to invest to get the property ready for the market or worse, you will have to drop the price to get it sold.
Your equity is back: Most homeowners didn’t consider selling for many years due to the fact that their equity evaporated during the housing crash. Don’t dwell on it, things are moving in a good direction now and an increasing number of owners are returning to positive equity. Do your research and get an opinion of market value, you might be pleasantly surprised.
Your life has changed: An important life change can trump all other reasons to sell your home. Growing or shrinking families, a new job with a long commute, retirement, divorce, etc… are all causes to seriously consider moving on to a home that makes more sense for this time in your life.