Signs it may be time to sell your home/property

Deciding to sell your property is a big step and, for many, it can throw up an  inevitable      question…’Am I really ready to sell my home? Most of us have moved at least once during our lives,  and many of us have debated the wisdom of selling a home.Given what’s at stake, it’s not surprising. Selling up can be both financially and emotionally challenging, so you want to be absolutely certain you’re doing the right thing before you proceed.

 

You’re financially ready to move

Having positive equity is great (some would say essential), but you still need to ensure that you’re financially ready to move. This is especially true if you are moving to a bigger property with a larger mortgage.

The increased monthly mortgage payments are just one part of the equation. Don’t forget about all the other expenses that go along with moving into a new property. Sure, you may be able to cover the immediate costs, but what about making your new house into your home? It’s surprising just how quickly even seemingly small jobs and additional furnishings can add up to a big bill! 

Knowing that you’re in good shape financially is a great sign that the time may be right for you to put your home on the market.

 

Your location no longer suits

Similar to the point above, your geographical needs may have changed since you purchased the property you’re currently living in. 

There are countless reasons why people may need to change location, including things such as school catchment areas, relocating for a new job, or shortening the commute for your current one. Some may simply want to move to a better neighborhood or be closer to friends and family.  Whatever the reason, if a change of location is required, it’s a strong sell signal

 

 Your local real estate market is hot

If houses in your neighborhood are flying off the shelves, and they are commanding prices above the listing prices, there is a temptation to cash in on the local boom. After all, who doesn’t want to make a record profit? If the price per square foot continues to increase and the time properties remain on the market is decreasing, it may be worth considering a sale.

It doesn’t hurt to have a realtor value for your home so you have an idea of the price it should bring if you put it on the market. Before you take the step of actually putting your home up for sale, be aware, however, that you will need somewhere to live once you sell. If you’re looking for a comparable home, it will cost you as much or more to buy it, so be sure you’re ready to compete in a hot market.

 

The housing market overall is positive

Again, this is another solid sign...if you have an accompanying reason to sell. We talk a lot about the modern housing market being driven by the ‘need-to-moves’ among us, and we’re not going to change our tune just yet.

Relying solely on the housing market to make your final decision on whether to move probably isn’t the best idea, but if you have another reason to sell up and are looking for a qualifying factor, this could be the crucial final piece of the puzzle you’re looking for.

 

 

 

 

 

 

 

 

 

 

Your home renovation won’t add to return on investment

If you’re thinking of remodeling your homes so it suits your changing needs, consider whether it will pay off when you are ready to sell the property. Do some research by looking around your neighborhood and determining how your house compares to the priciest homes in the area in condition and style. If they are similar, it may make more sense to sell and put your renovation fund toward a new property instead.

 

 

 

 

 

 

 

 

 

 

 

 

 

Your family is growing or leaving home

Another baby on the way or a grown up child flying the nest are obvious signs, but ones that cannot be overlooked.

Whether you’re running out of space or find yourself with too much, neither are ideal, so now could be a good time to think about selling up and moving on.

For those of you with kids who are thinking of moving up the property ladder, check out this post on moving house with children..

 

 Your home space needs have changed

As lovely as your home is and as much joy as it has brought you, it may no longer fit your family’s needs. Our lives have stages and our needs changes as we move through them. If your family is growing and your children don’t have space to roam, you may be seeking a more spacious property. Conversely, if your children have left home and you are experiencing an empty nest, the empty rooms may echo. Either of these situations may signal that it’s time to consider selling and finding a home that’s more appropriate to your lifestyle.

 

 The neighborhood no longer appeals

You’ve changed, or your neighborhood has, and you’re no longer happy there. There are many possible reasons for such a mismatch: you may be tired of the restrictions placed on homeowners by the neighborhood association; your neighbor has turned the basement suite into a short-term holiday rental that attracts rowdy guests, or you’re tired of the long commute to work that didn’t seem onerous at first. Whatever the reason, it may be time for a change to an area that makes you happier

 

 

Home maintenance has become a drag 

When you first purchased your home, you were likely young and full of enthusiasm for making it a showplace. Gardening was a pleasure, and it was invigorating to be outdoors mowing the lawn or shoveling the driveway. Or, perhaps, your interests have changed and you don’t want to spend time at home when you could be at the theatre or participating in a sports league. Whatever the reason, it may be time to find a home that asks less of you in terms of time and energy.

 

YOU are ready!!!

Our final point is an important one. Are YOU ready to move home?

We all know that moving home can be stressful, so ensuring that you’re emotionally ready to go through the process is essential. If you are, the time to sell your property could be right now!

 

If any of these reasons for selling your home rings true for you, it may be time to look at your budget, run some numbers and get in touch with a realtor. A new experience beckons.