Your house is your largest investment and when you bought it you might have thought it was your forever home. And so far, it has worked great and helped you build many irreplaceable memories. However, time has gone by and some circumstances have changed and now you are questioning whether the time has come to put it on the market. You may be hesitating, being unsure as to the right timing to sell it. Let’s see if you are living through some signs that you are ready to sell your home.
You Have Built Some Equity
As opposed to being forced to sell your house when you owe more money than what the property is now worth, having built equity puts you in a positive position when deciding to move. It seems that since the pandemic home prices have been on the rise so your house is likely worth more than what you paid for it. Run some numbers to see if the money that would be coming in from a sale would be enough to pay off the mortgage and give you leftover funds to put down an attractive down payment on your new home. If the numbers work, it may be a good opportunity to sell.
You Have Outgrown Your Home
If your family has expanded and you urgently need an extra bedroom or bathroom, you may be looking at a sale. On the other hand, your kids might have moved out and you may be looking to downsize. If your finances allow it, you should look for a house that adapts better to your current housing needs.
You Have Received an Unsolicited Offer
If your home in an area where the prices of real estate have been increasing and there is not too much inventory, you may receive a call from a broker telling you that someone is interested in buying your home. If you look at some comps, you may discover that homes similar to you have actually increased in price. If you had given even a slight consideration to the idea of
You Are Emotionally Ready
Being emotionally ready doesn’t mean that you have stopped treasuring the memories that you have built in the house. Those will be with you always. However, listing your home does entail investing some emotional and physical energy into the process. In short, you should be prepared to make necessary repairs, clean, pack, and
Think About Your Options
If the scenarios described above cause you too much stress, you may consider going with
A home cash buyer will not have to wait for a mortgage to be approved, they will buy your house as-is, and give you a fair offer for your current home.