Maybe you’ve been browsing real estate listings in your spare time and dreaming about buying a new home. But how do you know if it’s actually the right time for you to sell your current home? While there is no one-size-fits-all approach, there are some telltale signs that the time is now. Here are 7 of the most common signs that it’s definitely time for you to sell your home.
You know you’ll make a profit
The best time to sell your home is during a seller’s market. And we are definitely in a seller’s market right now. There is a record-low inventory of existing homes for sale and huge buyer demand. When you put your home on the market now, you can feel confident knowing that you’ll most likely sell quickly and for a good price.
Your neighbor just made a killing on their home
When you’re looking at homes for sale online, take a look at recently sold homes in your area as well. If there are other homes near you that are comparable in terms of size and amenities and they sold for a price you’d be excited about, then now is a good time for you to sell, too.
Your feeling financially overextended
While making a big profit is a good reason to sell your home, wanting to get out from under that debt is also a sign that it’s time to sell. The pandemic has created financial challenges for millions of Americans. Struggling to make your mortgage payments is a terrible feeling. If you’re risking foreclosure, then now is a good time to sell your home and find something more affordable.
You need more (or less) space
One big reason that many people are selling right now is that they need more space. If you’re now working from home, thinking about increasing your family or having an elderly relative move in, then you may need more space. Conversely, you may also need less space if your kids have grown up and moved away from home. If your current home no longer meets your needs, then that’s a sign that it’s time to sell.
You’re tired of the maintenance
Some homes need more work than others. If you’re getting tired of putting money into endless repairs and maintenance, then that’s a sign it could be time to move on. Consider relocating to a home that needs less work, such as a condo or new construction home.
Your kids are getting ready to start school
Another compelling reason to sell your home is that your kids are now old enough to attend school. If the schools in your district don’t meet your expectations, then it’s time to move. Focus your search on homes that are in good school districts so that you feel confident you’re sending your kids to a high-quality public school.
You can’t stop daydreaming about a new home
Sometimes there isn’t necessarily a concrete reason that you want to sell your home. You may simply discover that you can’t stop daydreaming about living somewhere else. Perhaps you crave certain neighborhood amenities that you don’t have in your current place, or you just need a change of scenery. Trust your gut, as this can be a strong sign that it’s time to move on.