When you own a home, one of the hardest decisions you might make is deciding when to sell it. We've got some tips to help you determine when it might be a good time to consider selling your home.
- You've owned your current home for at least five years - In most cases, if you've owned your home for a minimum of five years, you'll have enough equity to at least break even when factoring in closing costs.
- You've changed/ your life has changed/ your lifestyle has changed, but your home hasn't - Life is an ever-changing process. A few ways you or your life might have changed that would make selling your home a good idea include change in career, getting married or divorced, having children, becoming an empty nester or taking on the care of a loved one in their later years.
- Keeping up with maintenance and repairs has become burdensome - Home ownership comes with a number of commitments that might become difficult to keep up with as the years go by. In colder climates, snow shoveling and winterizing the property could become difficult to keep up with. During the warmer months, lawn maintenance, pest control, power washing and other outdoor chores can be tougher to keep up with. If this describes you, it might be time to check out condo living and the virtually outdoor-maintenance free lifestyle it provides.
- You are financially stressed out - Many people underestimate the on-going costs associated with home ownership. In addition to mortgage payments, you might have mortgage insurance, homeowners insurance, flood insurance, appliance repairs and replacements, outdoor maintenance and other financial commitments that add up to a stressful situation. Selling your home and opting for something more affordable can give you the breathing room you need to ease financial stresses.
- Selling would give you a good profit - As home values have steadily risen the last few years, your home could be worth more now than it has been in over a decade. Selling now could give you a good profit for your retirement nest egg or to pay off debt and enjoy a debt-free life.
When is a good time to sell your home and move on? Only you know for sure but if you've been waiting for a sign that it's a good time to sell your home, this list is a great place to start. The next best thing to do is call your professional listing agent with Century 21 Broadhurst to guide you every step of the way.