The Commonwealth Blog

Wednesday, October 17, 2018

How You’ll Know It’s Time to Sell Your Home

Even when you don’t plan on staying in the same home forever, it can still be a tough decision to decide when it’s time to sell your home. It’s a big decision but is an exciting time when you are confident you are ready. Before making this leap, it’s important to analyze the factors that contribute to selling and buying a new home. Make the decision knowing it’s right for you and your family with these tips to know when it’s time.

Its Size Doesn’t Suit You

One of the most common reasons to sell a home is because you’ve outgrown it, or its outgrown you. Life moves fast and with it comes changes, sometimes warranting a need for a new house on the horizon. Whether you are in a house you bought before having children and now feel crammed in its corners, or, you are a new empty-nester with more house than you need, these might be signs it’s time to consider selling. Ideally, your house’s increased value and financial situation will ease the transition in your ability to look for a house with a size that suits you. The longer you live in the uncomfortable conditions of a house that no longer fits your needs, the more stressful it often becomes. It’s ideal to make note of what you are currently lacking in order to help fuel your search for a more suitable style that fits your needs.

The Market Will Make You Money

The most fitting and optimal time to sell your house is when it’s a seller’s market. The ability to afford the costs that come with buying, selling, and moving is a big contingent on how ready you really are. If you’ve been contemplating selling your home, your ability to make a profit on it can be a great reason to initiate the process. A good way to tell if the market trends are in your favor is to keep an eye on the timeline that properties in your area are on the market for. If the time is decreasing, meaning houses are selling fast, it’s a good sign that the market is in its prime. It’s also helpful to know the worth of the price per square footage in your area. When the price per square foot increase, it’s the best time to make money on every inch you own. Slowly start analyzing the selling rate in the areas around you. If houses are selling quicker and at a higher price than you’d expect, it’s an indication the timing might help you get the most bang for your buck.

The Neighborhood Doesn’t Fit Your Needs

What once was the perfect place to call home, might not be benefitting your current lifestyle. Maybe it’s a change of jobs and you’re tired of the lengthy commute you once didn’t have. It could be the need to be near better schools as your children’s ages require a new level of commitment to their education. Problematic neighbors or simply outgrowing the area may be an indication it’s time to start searching elsewhere. Whatever the reason may be, where and what you live close to is an important determinant on if it’s the right spot. Consider what you currently dislike about the neighborhood you are in to make sure your move is somewhere that is a better fit.

It is likely you consider selling your home when you enter a new stage of your life. To know you are ready to sell it’s good to make sure the benefits of your new home outweigh the process of selling it to ensure you are happy with your decision. Sell when the market price is right and you’ll be thankful for the extra expenses you saved.

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