On the Fence About Selling? These Signs Indicate the Time to Sell Might Be Now
The typical American homeowner rarely stays in their first home for their entire lives. While this may have been the case with our parents and grandparents in previous generations, today’s homeowners often buy and sell several homes over the years.
So, how can you tell if it’s time to sell your current home? What kinds of signs should you be looking out for, and how does the market in your area impact the decision? Check out these eight signs: they’re all sure-fire hints that you may want to start packing boxes and looking for your next home soon.
#1: Your Family Has Grown or Shrunken
Having children can sometimes affect your homeownership, especially as they grow older or in number. For example, once one child reaches a certain age, he or she should have their own bedroom and if you have more than one child, this can be a problem if your current home only has two bedrooms. If you have elderly parents, you might also have to figure in one of them needing a room in your home in the near future as well.
Families can also shrink in size, and this too can be a sign that it’s time to sell. If you’re a married couple with grown, independent children, then you may be left alone in a home that’s just too large for two people. In this situation, a move to a smaller, more accommodating home may make sense.
#2: Interest Rates Are Low, but Starting to Rise
Interest rates have been at historic lows for several years now, but things are starting to change, and quicker than many had anticipated. If you want to take advantage of reasonable rates on a new home, then now might be the time to do it because interest rates are starting to climb.
This will also be a factor in how quickly you can sell your home, so the longer you wait, you could be paying more for your new home and waiting longer for your current one to sell.
#3: Home Values Are on the Rise
Along with the mortgage interest rates, home values are also climbing. So, if you want to enjoy getting a higher price for your home, then now is a good time to think about selling.
#4: Your Kids Are Entering School Age
If you currently live in an area with a school system that’s not exactly the best and your children are starting to enter school age, then selling your home and moving to an area with better schools might be something you want to consider. The quality of the schools is one of the most common reasons why homeowners choose to relocate.
#5: A New Job
If you were recently hired by a new employer and your workplace is a longer commute, then this could be a sign that you might want to think about moving closer to your place of employment. Of course, if your spouse works, then you will also have to consider how the move will affect them. Finding a home located equidistant to both jobs is usually the ideal solution.
#6: Your Neighbor Just Sold Their Home for More Than the Asking Price
If your neighbor recently placed their home up for sale and it sold quickly and for more than what they were asking, then this is a good sign that your neighborhood is currently in-demand. Selling now will allow you to price your home higher because Realtors will look at your neighbor’s sale when comparing offers. It will also increase the odds that your home will sell quicker than usual.
#7: Your Home’s Upkeep Is Getting Too Much for You to Handle
If you purchased your current home when you were young, then you probably didn’t think that one day when you get older, all of the upkeep and maintenance it requires might be too much for your aging body to handle. But, this happens all the time. When it does, selling the home and moving into something easier to manage tends to be the best solution.
#8: You’re No Longer Happy
As we age, we change – that much is a fact of life. So, your feelings about your home or your neighborhood can also change. If you’ve just grown unhappy in your home, then moving into a different one might be what you need to raise your spirits. This often happens when we lose loved ones. The home doesn’t feel the same anymore, and selling it and buying a new one can often have a healing effect.
Are you feeling like you need a change of scenery? Are you worried about where the real estate market is heading? If you are going through any of the above situations, then selling your home may be the solution you’re looking for. Luckily, at Homes.com, we have your next home waiting for you!