After you have made the decision to sell your home, you must determine if it is the right time to put it on the market. Unless you are in a hurry to get rid of the home, waiting could be the best course of action. However, there is the possibility that the market is ready for your home. If you are unsure if you should list your home, here are a few instances in which you should consider it.
The Availability of Homes Is Low
Regardless of how whether interest rates are high or low, if there is a low supply of homes for sale in your area, now might be the time to list. Fewer homes mean that there is far less stock from which buyers can choose. Unless buyers want to delay buying a home, they will have to choose from what is available.
A limited supply does not mean you can put your home on the market in any condition. Make sure your home is in good condition. Work with your real estate agent to make the right improvements and to properly stage your home for showing.
Interest Rates Are Low
Low interest rates might not sound like a big deal because you are selling your home, but knowing what the current rate is should be important to you. When the rates are low, more potential buyers are tempted to start the pre-approval process. Once they have been approved, they will undoubtedly start house hunting.
An advantage to listing your home now is that you could possibly sell your home for more than you were considering listing it. With the interest rates low, buyers will have more financial wiggle room when it comes to paying for a home.
Your Home Is Getting Too Small
Taking the market into consideration is important, but the comfort of your family trumps the financial side of selling a home. If your family has expanded since you bought your home, selling your home and upsizing might be the best move.
Moving now could not only give you more room for your family, but it gives you a chance to upgrade the neighborhood in which you live. For instance, if you have young children, you can choose a neighborhood that is near better schools.
Your real estate agent can help with evaluating your current living situation and the market to determine if it is a good time to place your home for sale.Share