Selling your home is all about timing. It’s important to understand how the market is changing as well as what your needs are. There can be a variety of signs it’s time to sell your home. Take a look at some of the motivations for putting your home on the market.
Home Prices are Rising
Your home is an investment, and one of the best ways to maximize the return on your investment is to sell when home prices in your area are on the rise. We’re currently experiencing a seller’s market, which means that the low inventory levels and high demand are pushing home prices above market value. The stories you’ve heard about homes selling for thousands of dollars above list price, homes receiving multiple offers, and homes receiving all-cash offers are completely true.
You’ve Outgrown Your Space
Whether your family is growing, your family members are moving in with you, or you have a business you’re launching from your home, your space can become cramped. It’s important to have a home that is functional for your new lifestyle. Make sure that the extra square footage is something you will need for at least the next 5 – 7 years, instead of something that’s only necessary for a few months.
You Need to Downsize
On the other hand, you can have too much space and find it necessary for a smaller home. As children move out and your needs change, you may find that you’re looking for a home with fewer bedrooms, bathrooms, and square footage.
Maintenance is Out of Your Control
If you’re living in an older home or just a home that needs more maintenance, it may be difficult to find the time, funds, and resources to take on the upkeep of your home. If you recognize that you’re unable to keep up with your home’s maintenance needs, it may be time to sell before the property starts to lose value or falls into disrepair.
If you’re weighing whether to sell your home now or wait, contact Prism Realty. We’re here to offer our expertise and help you achieve your real estate goals. Learn more about the signs it’s time to sell your home by giving us a call at 512-676-5842.