Choosing to sell your home is a big decision—a decision that requires the careful weighing of a variety of factors. To help, here are five signs that might indicate it’s time to sell.
1. You've Outgrown Your Space
Are kids outgrowing shared bedrooms? An in-law moving in? A new virtual work opportunity that requires a home office? These are the life events that really necessitate a bigger home—not the inability to curb a shoe-buying habit.
2. Your Neighborhood is Booming
Pay attention to “Recently Sold” postcards in your mailbox and talk to those neighbors plunking down For Sale signs in their yards. If homes are selling above listing price, now might be a wise time to take the leap.
3. You're Letting Things Go
Realize that the more you let things go around the house, the more money you’ll have to invest to get it ready for market. Evaluate if it’s time for a simpler, less work-intensive option.
4. Your Equity is Back
94 percent of homes priced at $200,000 and above have returned to positive equity. Do some research and have your home reappraised. The option to sell might be back on the table.
5. Your Life Has Changed
Growing or shrinking families, a new job with a new, long commute, retirement, divorce, etc., are cause to seriously consider moving on. Ultimately, a happy home is one that’s in sync with your current phase of life.
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