openestates

Choosing the right moment to sell your home might feel impossible. If you are in financial trouble, you may end up facing foreclosure. Sell too soon when the market is at its low and you will miss out on the upswing opportunities. It is always on you – nobody else can make that decision to sell your home now or stay put. 

Perhaps you are facing such a dilemma right now. To make the right decision, you need to consider the signs and the facts. Only then will you be able to evaluate the facts and act in an informed manner. Here are a few essential signs that it is time to sell: 

• The market favours sellers and there has been a home price growth in the area – you can bet that a lot of players on the property market follow the oldest trick in the book-buying low and selling high. But for this kind of strategy to work, you first need to consider how the value of your home compares to the larger picture of the market. You have to monitor the price trends in your area and the general state of the market. When it is a seller’s market, you can command a higher price. 

• The sale lines up with seasonal trends and buyer behaviour – as you start following the clues of the market, you may notice that certain periods of the year present better opportunities than others. But remember that while it is true that buyers come out in full force with the start of spring, there may be some differences from one area to another. Sometimes you can sell even in the autumn and winter, depending on buyer behaviour. 

• You have trouble making ends meet every month – owning a home comes with plenty of expenses. A mortgage is just one of them. There are property taxes, insurance, utilities and many more things you need to address. There are also maintenance costs and other costs that you cannot plan for. If the situation calls for it, perhaps it is time to downsize, to better meet your financial difficulties. 

• The place feels small for you – a lot of buyers like to use the proceeds of their home to buy a new one. If you have crunched the numbers and they add up, it is time to consider a bigger and better home. That way you can accommodate a growing family, without having to meet financial turmoil. Selling and buying a new home requires some fine-tuning in regards to timing, but it is not impossible to do right. 

• You cannot keep up with upkeep – all houses have one thing in common – they require upkeep. If you feel like you cannot keep up with this upkeep, you need to consider selling, or else the house will quickly lose value. Don’t wait till it is too late, and get a house with the style, features and floor plan that you are comfortable (even later in life) and you don’t need to trouble too much with. A lot of people wait too long until they face the harsh truth – they need a place accommodates them. It is a lot easier to move and search for such a home when you are still in good health. 

Evidently, there are a lot of signs that hint selling your home is a good idea. You just have to keep a close eye on the current situation and act when the time is right. 

© Open Estates