February 21, 2018
5 Signs You are Ready to Sell
Over the last several years it has become increasingly more common for families to purchase their second or even third home. Less and less people stay in their first or even second home. With the millennial population now purchasing homes, second and third home purchases will only become increasingly more popular. Young professionals are not settling down as early or in the same way the baby boomer generation did. They tend to make more frequent changes in areas like careers, location, and travel. Making it not uncommon for them to own multiple homes throughout their lifetime for a multitude of reasons.
There is a lot of thoughtful consideration that takes place when deciding to sell or stay in your home. Talking you into selling when that may or may not be the right decision for you is not our goal. Our goal is to give you things to think about and consider when making a huge, multi-factor decision. To help in this process we have created a list of 5 signs it may be time to make a change and sell your home.
- Growing or downsizing your household
Do you have a new baby on the way? Do you have aging parents that you are taking care of? Are you sending the last one off to college? Big life events such as these mean it is time to ask yourself, have you outgrown your living space? Are you nearing retirement and you have new home goals?
- Plenty of home equity
Subtract the value of your home from the amount you have left on your loan. Whatever is left over is the equity you have or the amount you’ll have post-sale. This is key to being successful because you need to have the funds to put down on your next home.
- Interest from potential buyers
You want to list your home when you know buyers are looking. This means finding out who your potential buyers would be and what time of the year they are looking. Most experts will tell you late spring is the ideal time and it is true that better weather brings more buyers but it also brings more competition from other sellers. This means you need to consider who would be buying your home and when would that buyer be looking. Do your research and find a real estate agent who has the knowledge to help you answer this question.
- Changing Circumstances
Location makes all of the difference. You need to be happy with your neighborhood, commute to work, the schools in your area and the overall community your home sits in. Your home needs to fit your lifestyle.
- Home Improvements
The answer is that it is always a good idea to renovate but renovations need to fit with your home, your neighborhood, and need to be desired by potential buyers. Renovations take calculated strategy to make sure you are getting the most out of your money. Minor updates are always worth it such as new paint, light fixtures, and repairs. Do not put your home on the market when a project is half finished, completing the project shows buyers you care and you do things 100%. People want to purchase homes from people who cared.