Recent studies show that homeowners average about 9 years in their homes. There are varying reasons a homeowner decides it’s time to sell. Do you know the signs it may be time to move from your current home? It’s a very personal decision to sell your home and one that requires a lot of thought and consideration before making your final decision.
Keep reading for tips on whether it’s the right time for you to make a move.
1. Your Home No Longer Fits Your Lifestyle
Over time life has a way of changing. Maybe you were single when you purchased your home and now you have a family or maybe you bought a larger home and your children have left the nest.
There are many personal scenarios that can cause your life to change and with those changes your current home can become less desirable.
2. The Neighborhood You Live In No Longer Suits Your Needs
If you no longer find the neighborhood you live in desirable that could be a sign it’s time to move to a new one.
You might have purchased your home when you desired a downtown location and now want more privacy and quiet. Maybe the neighborhood has changed since you purchased your home and just isn’t appealing to you.
Whatever the case may be, if you no longer enjoy your neighborhood it might be time for a change.
3. You Know Homes In Your Neighborhood Have Been Selling For Appealing Prices
Seeing your neighbors home sell for a great price is exciting. It’s natural to start to think about if you could do the same thing.
Before you get too excited make sure you compare your neighbors home to your home. Are they similar in size, floor plan and condition? If they are then there is a good chance you could sell for a great price too. If they’re different then it’s not as easy to determine what your home will sell for.
If you’re still excited about the thought of selling reach out to an agent you trust and have them look at your home to determine what you could sell for. If your agent tells you it could also sell for a great price then you at least know you don’t have to guess on its market value. Selling your home is a business decision and doing your research is a must.
4. You Have Lived In Your Home At Least 5 Years
In general, you need to own a home for at least 5 years to sell without losing money. That’s not true in every case (less or more time) but, the general consensus is 5 years.
There are costs associated with selling and buying and you’ll need time to increase your equity and hopefully see your home appreciate.
5. It Makes Sense Financially
Did you just get a big promotion or a new higher paying job? Or, on the opposite spectrum do you feel like you’re house poor? Either of these can play into making the decision to sell your home.
Talk with your mortgage lender to see what you can best afford. If you don’t have one you trust reach out to your real estate agent or ask friends and family for referrals.
Is it time to sell? If you find yourself relating to any of the above it might be but, the truth is, only you can answer that. If you decide it’s time to sell partnering with a real estate agent who can help you analyze your current situation and listen to your selling goals is a must. Picking the right agent is one of the most important aspects of the entire home selling journey. Reach out to me at 703-431-3755 or [email protected]
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