Are you thinking of selling your home? Well, you’re not the only one. Over 5.3 million existing homes were sold in the United States last year.
It just goes to show how many Americans are looking to sell their property at any given time! Of course, their reasons for upping sticks and moving will vary. But you can bet your bottom dollar they all have one thing in common:
A desire to sell their house at the right time.
After all, timing is everything when it comes to getting the biggest possible payout for a property. You could sell too early when the market’s down and miss the spike that’s coming. Alternatively, you could wait too long and see the market crash.
Whatever happens, mistiming the sale is a recipe for losing huge sums of money. Want to avoid that fate? Let us help!
Keep reading to learn exactly when to sell your house.
The Market’s Hot
Selling your property when the market’s down is never ideal. Indeed, there could be an upswing just around the corner! You could sell today and see the value of property skyrocket in a weeks’ time.
You’d have lost thousands of dollars in the process.
It is, of course, far better to wait until the market’s running hot. You’ll see higher demand drive your home’s value up, delivering better offers from budding buyers as a result.
The tricky part is understanding the current state of the market! Want our advice?
Speak to a professional realtor for advice. They’ll know the local market better than anybody. Drawing upon their experience and expertise, they’ll let you know whether now’s a lucrative time to sell or not.
You Can’t Afford the Mortgage
Many people are forced to sell their home because, for one reason or another, life’s thrown them a curveball.
Their financial situation changes, they’re unable to keep up the mortgage repayments, and they have no choice but to downsize and/or move to a more affordable neighborhood.
Are you getting into dangerous territory with your finances? Think about selling now- before it’s too late. Wait too long and you could risk foreclosure.
It goes without saying that this situation is far from ideal. Acting early, though, is the best way to stop it from getting worse.
You’re Circumstances Have Changed
The decision to sell a house isn’t always about money! Sometimes, it’s more a matter of personal preference and circumstances.
Consider someone who’s lived in their first home for 5 to 10 years, built up enough equity, and wants to live in a nicer neighborhood. They could more than justify the decision to sell!
The same would apply to a married couple planning to have a family. Their starter home could be too small for children and/or too far away from good schools. It makes perfect sense that they’d move home to accommodate their changing needs.
Think about your current circumstances and how they might change in the coming years. You could decide to sell now in preparation for what’s to come.
You’re up for the Challenge
It’s worth remembering that selling and moving house isn’t always straightforward.
You’ve got to do your research, market your property, and do viewings with potential buyers. You’ve got to find a new house, sort out the mortgage arrangements, save the down payment, and navigate the legal side of things. Then you’ve got to organize inspections, pack your worldly possessions into boxes, and transport everything to the new place.
And so on! The whole process can take hard work, time, and effort to complete.
Thinking of selling your home? Make sure that you’re up for the challenge! If you feel ready to embrace the ups and downs to come, then now could be the perfect time to move.
You’ve Got the Money
Sometimes the best reason to sell a house is the simplest:
Because you can!
You might have worked hard for years, moved up in the company, and done well for yourself financially. You could decide to sell (assuming that the market’s solid) for the simple reason that you can afford to do so.
Your current house might feel too small or outdated. Why not move somewhere more modern and in-keeping with your lifestyle? If you’ve got the money to do it, then there’s nothing stopping you selling your home and finding somewhere preferable.
You’re Getting Longer in the Tooth
Waiting too long to sell your home can spell trouble when you’re getting older.
The property might not be set up to support someone with ailing physical capabilities. There might be a big staircase to get up and down, lots of maintenance work to do, minimal safety equipment in the bathroom, and a giant garden to tend outside.
Choosing not to sell (for sentimental or practical reasons) could lead to potential problems, such as falls. Furthermore, selling a house and moving somewhere new is far harder when you’ve got physical injuries and less energy to contend with!
Downsizing sooner rather than later is often a better idea.
You Dislike Where You Live
Last but not least, it’s worth considering how you feel about your current residence.
Do you dislike it or feel unsafe? Does it hold bad memories that are impossible to escape? Is the neighborhood dangerous and unwelcoming?
If you answered ‘yes’ to any of those questions, then now is as good a time as any to sell up and move (assuming that money isn’t an issue).
Thinking of Selling Your Home? Time It Right!
Millions of people sell their homes in American every year.
And the timing of the sale is all-important for every single one of them. Getting it wrong could lead to a whole host of financial, emotional, and practical challenges.
Are you thinking of selling your home? Well, we hope the suggestions in this post will help you decide whether or not the timing’s right!
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