Many questions have been asked if there is a perfect time to sell their house and the answer has always been the been the decision to move onto the next chapter. It could be that you are expecting a baby, or you have accepted a new job, no matter the reason whenever you want to sell your home, it should match with your current needs and that to come. Below are some factors you need to investigate before selling a home.
- Your finances: In most cases, personal finances act as the most driving factor behind selling a home. If you have lived in your home for a long period of time, you may have equity that can serve as a down payment when looking for a new home, to pay for other big expenses, or to supplement your retirement. In addition, it is good for an individual to know if he/she has enough for the cost related to the home.
- Life changes: It is often very difficult and often not possible to plan for life biggest changes. A problem may arise that will make you sell your home quickly and move away. Some examples of such situations might trigger such a move, a new job, placing your kids in better school, help need by your aging parents etc. there are other ways to ease the prosses of selling since selling on a short timeline is stressful.
- Upgrading or downsizing: Your home may not be suitable for your liking or maybe your family has grown, so you need a house with more bedrooms, the decision to sell your house could be prompted. In a real sense, it will require some time for you to think before taking a decision. Take a walk around the house and take note of the spaces you used and how they meet your needs. Moving to a lower cost home could free up some money for traveling, or maybe your kids have grown up to college-age who may want to come back home, so downsizing carries its own cost.
- Seasonal changes in real estate: Everything being equal, aside from personal factors, it is sometimes best to sell your home during the peak months to benefit from higher prices. The calendar can serve as a guide to you when you are on the verge of selling your house. According to the realtors, home sales tend to pick in February, increase much higher during springs and at the peak in the summer. Endeavor to make findings and familiarize yourself with the present drift in your local market. In addition, make a seasoned real estate agent understand how your local real estate market is being impacted by a change in seasonality.
- Other market factors: Aside from seasonality, there are also some other factors to be considered and the most important is the inventory of houses for sale in your area. Low inventory implies that it could be the best time to sell, since buyers may scramble for any property available therefore making them willing to pay top dollar for your home.
The Sherry Riano Team of experts are here to help you!