Should You Sell Your Home This Year?
Have you ever said to yourself, "I want to sell my home BUT...."
If you've been on the fence about selling, this post might help you to see if now might be the right time to make a move, or if it might make more sense to stay put for a bit longer.
Do you feel the need to upsize or downsize?
If you’ve outgrown your home or have too much to maintain, it may be time to consider moving.
Adding an addition or finishing your basement may give you more space in your current home, however, it's important to consider whether these improvements will add value, or price you out of your current neighborhood. When the time comes to sell, the last thing you want is to lose all that money you put into the renovation.
Do you feel Like your current neighborhood is no longer a good fit?
Sometimes, it may not be the home but rather the neighborhood or area that you have outgrown. OR maybe it’s your lot or specific location. Do you want a larger yard or more privacy? Off-street parking? Access to public transportation, or want to be closer to more shopping and dining? Want to be in a better school district?
Whatever the reason, if you want (or need) to be in a different area or neighborhood, it may be time to consider selling.
Can you make a profit if you sell your home?
Do you have equity in your home? For many people, interest rates are holding them back from making a move... (I get it, who wants to trade in a 2-3% rate for a 6-7% rate)...
HOWEVER, due to the rapid appreciation we’ve seen in home prices in recent years, you may have built up a lot more equity than you would have in a more *normal* market. This increase in your downpayment should somewhat offset the higher interest rate that you’ll be trading in.
Wondering how much equity you have in your home? I’d be happy to send you a free home valuation, equity assessment, and seller net sheet so that you can decide if making a move makes sense financially.
Are you emotionally ready to sell?
Selling a home brings about a wave of different emotions. There is excitement in a fresh start, but there may also be sadness in leaving a home you’ve loved for years... all of which are completely normal.
If you can honestly answer “yes” to these questions, you just might be emotionally ready to sell:
- Are you willing to remove your personal items from the home to stage it?
- Can you commit to the long haul of having a house on the market and constant showings and open houses?
- Are you ready to hear negative comments about the home without getting offended and defensive?
Our current real estate market can be challenging to navigate, but having a solid plan and a good agent by your side can significantly impact your experience and make all the difference!
Thinking of making a move in the next 6 months? send me a message to get a free copy of my Seller guide, and let’s discuss the next steps!