Just as buyers need to do their research before taking on home ownership, those who are considering placing their home on the market also need to spend some time contemplating certain aspects before listing their property. Unless there’s a particular urgency to sell your home, those still on the fence about whether you’re ready to sell your home should read the below for a few tell-tale signs to know it’s time:
1. It’s the best move for you financially
One of the best ways to determine whether it’s time to sell is if you’re in a good financial position. It’s important to first find out if you have enough equity in your home, as sufficient equity may increase your chances of leaving the sale with a decent profit. You’ll also want to ensure you have enough money saved to support your move. Don’t forget to factor in the costs of agent commission, bond cancellation fees, moving charges, and additional costs to sell your home.
2. The property market is booming
Arguably one of the most vital factors to consider is the state of the property market. It’s important to remember that the property market works in cycles. At times, the market will favour buyers and at other times, the market will favour sellers. It all depends on the economic environment and conditions that surround the local housing market.
3. You’re able to sell for the full value
Ideally, before listing the property, you should talk to a real estate professional who has working knowledge of their specific market. A good agent will be able to determine whether it’s prime time to list the property to ensure you get the best possible price. If, however, there are many similar homes on the market in the area, it might not be the right time.
4. You’re happy with your property valuation
Setting the right asking price is imperative to getting the best possible result from the home sale. A crucial mistake you should avoid is overpricing your home. The problem with overpricing is that buyers may not take the time to view it as it doesn’t fall within their budget. If you’re unhappy with the valuation of your home, you may not want to sell right away.
5. Your home no longer suits your lifestyle
Although it could be easier to renovate your space to better suit your lifestyle, some changes may not be possible in your current home. Whether you’re looking to downsize or you find yourself wanting more space for a more comfortable home office, if your current house isn’t accommodating your changing lifestyle, it’s probably time to sell and find a new home.
6. You’re emotionally ready to sell
Before you list your home, you might want to ensure that you’re emotionally ready to sell. You’d need to be willing to let go of your personal attachment to the home and allow the professionals to stage it for potential buyers. You’d need to be okay with potential buyers not finding your home as perfect as you do and most importantly, you’d need to be ready to move out and leave the place where you and your family have made memories.
Sell your home with a professional
Selling your home doesn’t have to be incredibly stressful. Consider the help of an experienced real estate professional who can help guide you through the various and often complicated processes of selling a home. Having an agent as a go-to for advice throughout this process can help ease the burdens that come with selling a property.