5 Questions to Help You Decide Whether to Sell Your Home
Selling your home is never an easy task. So, before you make the final decision to embark on the home-selling process, make sure you want to move. Use the five thought-provoking questions below to help you decide whether it’s the right time to list your home with a realtor.
(1) Does the size of my current home still work for me?
Look at your home’s square footage to determine whether the size fits your needs. For example, if your kids will soon be teenagers, do you have ample room to spread out? Or if you’re getting married and planning to have children, will your current home accommodate your growing family? On the other hand, if you’re empty nesters and have a large home, maybe a smaller, cozy residence would work better for you. If the size of your home doesn’t feel comfortable anymore, it might be time to put a for sale sign in the front yard.
(2) Is it a seller’s market?
Visit with a local real estate agent about home sales in your city and specifically your neighborhood. A good realtor can give you the current pulse on local sales statistics, such as how long homes in your area are on the real estate market before they sell, as well as the original listing price versus the actual selling price. An agent can also give you an idea of the home supply versus demand in your locale. Typically, a shortage of available homes for sale paired with an increased demand creates a seller’s market scenario.
(3) What does my home’s financial picture look like?
Your home’s financial picture is a vital component when you’re thinking about selling. Calculate the dollar amount you owe on your mortgage and home-related loans and subtract it from your home’s fair market value. The difference shows the equity you have in your home – positive or negative. If your home’s equity is a substantial positive dollar amount, it might be a good time for you to sell and make some serious cash. Also, compare your existing mortgage interest rate to the current rates to help you assess whether selling your existing home to purchase a new one makes financial sense.
(4) Do I enjoy the responsibilities associated with owning my home?
When the yard work and exterior maintenance of your current home have become more of a dreaded chore than a gratifying experience, consider leaving it all behind. Sell your home and opt for an abode where the outdoor upkeep is done for you, such as a condo or townhome. In addition, if you’re living in an older home that requires endless repairs and remodeling, a brand-new home may be just what you need. New homes don’t typically require much repair work or remodeling for several years down the road.
(5) Would moving to a new geographic location suit me better?
Have you been wanting to move to a different geographic location? Maybe you want to be closer to family or friends. Or perhaps you want a change of climate, scenery, entertainment, or lifestyle. If you have your heart set upon moving to an entirely different location, then what’s stopping you? After you’ve researched the demographics, climate, and cost of living in an area where you want to relocate, make plans to get your current home on the market and make the move you’ve dreamed about.
Consider your answers to the five questions in the previous paragraphs. If you can relate to at least one of these questions, it might be time for you to move. Consider putting your current house up for sale and moving to a home that better fits your existing lifestyle, budget, and desires.
How Summer House Realty Can Help
If you are thinking that you are wanting to sell your existing home, contact Summer House Realty today. Our experienced real estate agents can help you get a better understanding of the local market, comparable inventory, your current homes market value, and some things you can do to assist in helping your home sell. At Summer House Realty we offer free consultations and will work with every seller to try and maximize your home selling price. If you would like to speak with one of our agents call us today at (Amelia Island Office 904.557.3020 or Georgia Office 706.955.6436).