Most people don’t plan on living in their first (or second or maybe even third) home forever, but knowing the right time to put your home sweet home on the market can be tricky.
Our homes are filled with precious memories, which make letting go a little hard. In fact, for some people it can feel like breaking up with a longtime partner. We attach sentimental value to our house which makes ending things easier said than done.
The birth of your first child, the doodle your children left on the walls, or Sunday brunches together – Often, it’s the memories that we find difficult to leave behind. But sometimes life changes and we are forced to make difficult decisions. Selling your home could be one of them. The big question here is when is the best time to do it? If you’re unsure, keep reading to find out four signs that it’s the right time to sell your house.
1. Your family has grown or gotten smaller
Are you about to welcome a new baby or take in aging parents? aAre your kids fleeing the nest to go to college? In any event, if your living space has become too cramped or grown beyond your needs, it might be the right time to make a move. When you have kids, moving to a larger property or one that’s nearer to good schools is a natural step in life. Even if you don’t have kids yet, selling your property whilst prices in your area are high and buying a new one near a school could be a great investment. On the other hand, if you’re retired and your kids have all left home to begin their own journey in life, selling your home could be an excellent way to free up some cash for travelling or exploring activities that you’ve always wanted to do for years.
2. You are in need of cash
Another obvious sign that it’s the right time to sell your property is if you’re in need of money. Your property is likely to be your biggest asset. Selling your home would be a smart use of your cash. It could help you move to a bigger property, liquidate for some cash to live a fuller life, give you capital to invest into a business venture or reduce your debts by paying off a chunk of your loans. Whichever you choose, the cash that you get by selling your house could be put to good use towards upgrading your current life.
3. Market is strong
Even if you’re 100 percent ready to list your property, stay in regular contact with your real estate agent. That person is your best source of information when it comes to knowing what’s going on in your market, especially one who knows your selling needs. Having said that, here are a few signs of a strong market – an increasing price per square foot and decreasing days that a property stays on the market. If you notice these trends, then we say it’s a good sign to let go of your property.
4. You’re not a fan of the environment anymore
You probably moved to your house because of the bustling nightlife during your younger years. But gradually, you would probably move on from that particular time of your life. During a more mature phase of your life, you might want more peace and calm. If this scenario or something similar is the case, it might be the right time to move to an area that better suits your lifestyle. If you love nature and walking, a rural or greenbelt area would be a good fit. If you’re looking for good amenities and great eateries, then the city centre should be your pick.