Selling your home can be an incredible stressful process. That requires the skills to know the best time to determine when to put it on the market. The longer a home sits on the market the harder it becomes to sell. As of right now we are in the ultimate sellers market. If you are currently a home owner and thinking of selling you have a huge advantage.
Low Inventory of Houses for Sale
Purchaser demand is so high, the market is running out of available homes for sale. At the same time, homebuilders are increasing construction this year, but they can’t keep up with the growing demand.
What Does This Mean for You?
If you’re thinking of putting your house on the market, don’t wait. A seller will always negotiate the best deal when demand is high and supply is low. That’s exactly what’s happening in the real estate market today.
How To Know If It’s The Right Time For You
While selling your home now would give you a huge advantage. Selling your house is personal, which is why your timing should be dependent on your specific circumstances as well. Let’s take a look at the personal factors that play a role in determining when you should sell your house.
Your Lifestyle Demands A Move
Sometimes knowing when to sell a home doesn’t boil down to the financials. Maybe your child is ready to start school, and your current neighborhood isn’t in a good school district. Perhaps you’re going to be an empty-nester soon, and maintaining a four-bedroom, three-bathroom home with a half-acre yard is too much for you and your spouse to handle.
Regardless of your lifestyle, your home should meet the needs of you and your family. So if your current home doesn’t fit the bill anymore, it could be time to move.
Home Improvements Are Complete
You’ve done all you can to remodel your home to your liking, and it still isn’t conducive to your lifestyle. If that’s the case, you may be ready to sell your house. While it may seem counterintuitive to have completed renovations or repairs just before selling your home, that work may actually be more beneficial than you realize. Sellers who have recently completed major projects often sell their homes faster and increase their profit margins.
However, if you have major repairs like replacing the roof, fixing the plumbing or repairing the water tank, you may need to wait until that’s complete before you list your property. Home buyers will be looking for a home in good condition. So, the more work you can complete ahead of time, the easier it will be to sell.
You’re Financially Ready
If you can no longer afford the carrying costs associated with owning your home, it’s a good idea to sell sooner rather than later. Even if you’ve paid off the mortgage on your house, you still must pay for property taxes, homeowners insurance and even homeowners association dues if your home is part of a larger community.
If your kids have grown up and moved out, you may want to consider selling your home and purchasing a smaller one. Downsizing can dramatically reduce your housing budget. With a smaller home comes lower taxes and utility bills. So, if you’re looking to cut housing costs, it may be appropriate for you to sell now regardless of the season.
The Bottom Line
If you’re ready to make a move, now is the time to sell. Contact us today to get your house listed at this optimal moment in time.