How to Know When it’s Time to Sell
Knowing when to sell a home is more than an investment-based decision. It’s a lifestyle decision too.
So while the financial side of selling your home to buy a new one matters. Your personal needs matter too. And often just as much, if not more so! As an article from Bankrate says:
“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”
If the thought of moving has entered your mind, even despite the higher interest rates, it’s important to ask yourself questions like:
“Is our home still meeting our needs?”
“What is the current market value of our property?”
“Does our property and neighborhood still fit well with the lifestyle we want?”
“What kind of new home do we qualify for?”
“Why do we want to move?”
Your answers to these questions just might reveal that your primary motivation for selling is more personal in nature, such as a big life change or a shift in what you need out of your house. In fact, here are some of the most common reasons sellers are moving today according to research from Builder Online:
Births
Deaths
Migration
Marriage
Divorce
Retirement
All of the above lifestyle changes can mean you need or want to change something in your home situation. And often, that means selling your current home and moving elsewhere. So don’t let rates hold you back from making your personal life better! There are many options available to you to help make a move possible. With how much equity homeowners have right now given the rise in values over the past several years, you may even be able to buy a new home that better meets your needs and finance less than you’d expect. The first step is always working with a trusted Realtor who can review your property, advise on its current market value and provide context with the latest market data and information. With all that guidance, you might just find making a change is more attainable and less of a financial burden than you think.