There are many reasons why it may be time to sell your home. You may need more space to make room for a growing family, or you prefer to downsize after your kids leave home. Whatever your motivation, you want to ensure that you’re timing it right.
If you sell when home prices plummet, you may lose valuable equity. If you sell when home prices are highest, there may not be a lot of buyers looking to move. So how do you know when it’s a good time to sell?
An experienced real estate agent can help you determine whether the market puts you in a good place. But for your situation, the signs indicate that now is the best time to sell your home.
You’ve Outgrown Your Home
Whether you are expecting another child, caring for an aging parent, or have taken in your adult children, when you’ve outgrown your home, it may be time to sell. Consider the permanency of the change. Will the kids be there for a long time? How long will you be able to care for your aging parent? Buying a bigger home is one of the main reasons most homeowners choose to sell.
You Need to Make a Change
Change is inevitable. Maybe you have to move for professional reasons, or you want to be closer to family. When change entails moving, then a home sale becomes necessary.
Home Prices are on the Rise
This is one of the riskiest reasons to sell your home. Sure, you may get more than you ever dreamed for your home when prices are on the rise, but that also means that you will pay more for another home. Perhaps your real estate agent can help you find a home in another state where prices are more affordable. Then you will have made both a profit and a smart move.
You Need to Downsize
Many homeowners are selling to downsize. The baby boomer generation is moving into their golden years. The kids are all out of the house, and boomers no longer need that much space. Selling now could also add a nice healthy sum to your nest egg. As long as you are smart about how much of that profit to spend on a new place, downsizing could be the right move for you financially.
You Can No Longer Afford Your Home
Sadly, some homeowners can no longer afford their homes. Whether it is due to divorce, illness, death, a skyrocketing mortgage payment, or the loss of a job, a change in your financial circumstances is a big red flashing sign that now is the time to sell your home. Waiting any longer could have catastrophic financial consequences.
In any situation you find yourself in, an experienced agent is the key to helping you achieve your goals. By speaking with Phyllis Harb today, learn to determine if now is the time to sell your home.
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