Your home has been your safe haven over the years. As much as your home means to you, it's starting to feel like it is time to make a move. So what should you consider when making the decision to sell your home? Here are six signs that it's time to sell.
- Nothing Fits
Are your cupboards so crammed that when you put the dishes away, Tupperware showers down on your head? What about the closet? When was the last time you actually saw the back of that thing? And then there is the issue of walkways. How many times can one adult trip on the way to the bathroom, really? If you've filled every nook and cranny, it's a likely sign you need more space, and you should consider selling your house.
- Growing Children
Babies sure have a lot of stuff, but even those infants with an excess of gear can still comfortably live in a tiny space. As children grow, they need an environment that can expand with them. If you have multiple children sharing the same bedroom or lack the room to run outside, selling your home and upgrading to a larger property may be the right choice for you.
- Changing Neighborhood
Does your neighborhood feel different than it used to? Are there a lot of new neighbors or an excess of empty homes? Changing neighborhoods can be a good indicator that it is time to move. If you find crime increasing and empty homes increasing, this can indicate your property value will continue to drop. It may be a good idea to sell now before your investment drops even lower. In opposite indications, an increase in sales and area improvements can greatly increase your home value. Selling your house in an upswing market can yield a great profit on your loan and allow you to invest in something further up the scale.
- City Real Estate Market
How hot is the market in your city? If you answered like "Seattle or San Francisco," you can likely guarantee a quick and lucrative sale. Other areas may not be moving so fast. When selling your home, it's important to consult the real estate stats in your area. You can check online or ask your local real estate agent.
- Interest Rates
Low-interest rates indicate a good time for selling your home. Low-interest rates will allow you a great rate on obtaining a new mortgage as well as entice buyers to your property at an affordable value. Low interest may not be a lasting option, so it's important to consult market experts online and in person to see your area market forecast.
- It's Your Choice
All the data in the world can't make the final decision for you. Selling your house will always depend on your timeline. Don't let someone else rush you if you don't feel ready. If you're unsure, however, the best idea is to consult a local real estate agent to find out your home's current value.
Understanding your market, pricing, and new homeowner options will simplify your decision and help ensure you live in a home you will enjoy for years to come.