Signs That You Should Sell Your Home
Each home you live in will serve a different purpose. Some are meant to be forever homes while others are just a resting point for a few years. It’s normal to simply outgrow a home whether you’re in need of a scenery change, job opportunities or even a growing family.
Wherever you are in life, if you’re unsure whether it’s time to put your current house on the market, here are some signs to look for before calling your real estate agent!
Before deciding to sell your current home and buy new, ensure that all your finances are in order. This is especially important if you’re looking to upgrade to a bigger, more expensive property. You must be able to afford an upgraded home comfortably. If, for example, you still have some debt to pay off or need to add more money to your emergency fund, take care of those things first so you’ll feel financially secure when you do sell your current house.
Equity is very important to take into account when deciding to sell your house. It’s recommended that you live in your house for at least five years before selling it to ensure you’ve built up enough equity. If you sell too soon, you may end up losing money because of all the selling costs. Selling too soon may also worry potential buyers that there is something wrong with the home. If you’ve hit that five-year mark, that’s a good sign that it’s time to sell!
If your goal is to make a profit on your current house and you’re in the thick of a seller’s market, that’s definitely a bright sign to put your home on the market! How do you know if it’s a seller’s market? Do your research and talk to your local real estate agent. Signs that the seller’s market is doing well can include an increase in price per square foot of real estate in your community, other properties are selling quickly, there are more For Sale signs in your current neighborhood, and the best indication is if homes similar to yours just sold for great prices.
Outgrowing or Ready to Downsize
There are often two points in someone’s life where they have realized their home is not fitting their gowing family comfortably and later, when they are ready to downsize to a smaller home with less upkeep. If you’ve noticed your home is too big for you than it was when you first bought it, and you’d like a house that is smaller, more affordable, and more manageable, downsizing would mean lower mortgage payments and lower homeowner costs in general. Or maybe you’ve introduced a new family member and seem to have way less space than before, it’s time to upgrade! Wherever you are in your life, these are signs it’s time to start browsing for your next home.
Do you check some, or maybe, all of these boxes? It’s time to talk to your local realtors! At Coldwell Banker Carroll Realty, we can help you navigate the complexities of selling your home with ease. We have experienced real estate agents throughout Panama City, Panama City Beach, and 30a ready to meet with you! Start your search for the perfect property with us today.