You may be wondering when it is time to sell your home. The right time varies upon your needs as well as the current market. Here are five signs that indicate the right time to put your house on the market:
It’s A Seller’s Market
If the demand for homes in your city or neighborhood far exceeds the supply of available properties, you are likely to find yourself in a seller’s market. As a result, you may be able to find an interested buyer who is willing to pay a high price to purchase your home. Depending on your original purchase price, you may be able to turn a significant profit on the home in this scenario.
You Need More Space
A growing family, an increasing amount of furniture, and working from home can result in a shortage of space. If you find yourself fighting to find room to fit your family or are constantly bumping into piles of paper or furniture, it may be time to sell. You can then find a home that has enough room for your family and work needs.
You Have Positive Equity
Equity is the amount that remains once you subtract your mortgage balance from its current market value. Positive equity results when the market value is significantly higher than the mortgage balance. This event usually occurs when you have been paying your mortgage balance for a while. If you find out you can make huge equity off your property, you should consider selling.
You Have Downsizing Plans
Children leaving the nest, a change in financial and employment status, and the desire for a simpler life are some of the most common reasons why people want or need to downsize. If your house is suddenly too large for your needs or you cannot or do not want to continue paying the mortgage for a larger property, it may be time to put your home on the market. Use this time to look for a house that meets your needs.
You Want to Move to a Better Neighborhood
A positive change in your economic status or simply the fact that it has always been your dream to live in a certain neighborhood are some signs that you need to sell. As long as you can afford the down payment and monthly costs, consider selling your home and moving to the community of your dreams.
Ready To Sell?
The perfect time to sell a house varies on location and the needs of everyone currently living in the home. Think about your current and future plans. If you think you are ready to sell your home, keep an eye on the market to determine the right time to list the house. Once it is time to sell, think about getting a cash offer on your home. Get a free, transparent and honest all-cash offer for your home by giving us a call at (972) 433-0236 or requesting a free cash offer for your home online.