Selling your home is a big deal! Whether you’re selling for the first time or for the fifth there is a lot that goes into the sale of your residence. Before you can ask questions like ‘how do I sell my home?’ you’ll need to ask yourself ‘am I ready to sell my home?’
Knowing you’re ready to sell isn’t as easy as waking up and deciding to. It’s never going to be the perfect time to move on from your current place, however there are ways to know if it’s a good opportunity, and a good decision, for you, your family, and your finances:
It’s the right time to sell when you have a plan
Having a plan is the most important part. You’ll need to understand the local market trends, as well as be sure you’re financially ready to make the transition from your current house into a new home. You’ll want to play out all the outcomes in your head with a lot of ‘what-if’ scenarios so you are prepared for anything. If there’s anything you’ll learn in the process of selling real estate it’s that you should always expect the unexpected.
It’s the right time to sell when you’re financially ready to sell
Having a strong understanding of your financial position will help you understand if it’s a good time for you to sell. It will also help you develop a plan after the sale, and where you’ll be able to go next. If you’ve owned your home for a long time and paid down your mortgage you should have some great equity built in! When you understand your finances it’ll allow you to determine if it’s the right time to sell, or if you should save up for another year or so.
It’s the right time to sell when you want a change of scenery
Change can be a good thing. There are many reasons you may want or need a change – whether it’s because you’ve outgrown your current place or are ready for a new location, there’s an abundance of reasons why it may be time to move on. If you’re looking for a change of scenery than you’ll want to be sure you’re committed to the change before deciding if it’s time to sell your home. If you’re on the fence about it, than it’s probably the wrong time for you to list your home for sale. However, if you decide you’re one hundred percent ready to make a move than go for it!
It’s the right time to sell when you are emotionally detached from your home
Being one hundred percent committed to the sale of your home is important before you undergo the process. Once you close, there’s no going back. That home no longer belongs to you, it belongs to someone else. Make sure you can handle that before moving on to the next phase of the sale. You’ll be moving to an exciting new chapter of life when you transition!
It’s the right time to sell when you’ve outgrown your house
Outgrowing your house is typical for first time buyers, and young families. It’s time to find a home that can fit everyone. If your family is growing, there is a good chance you want to sell your house, and find a new one with more space!