There comes a time for everyone when they realize that they have outgrown the home that they are currently living in. It’s time to sell your home and move on to something new that better fits your current needs and lifestyle. Other times, it’s just time for a change of pace and scenery. Even a new home in a different, nearby neighborhood can be the change you need in your life.
Sometimes, it can be hard to determine if it’s worth all the efforts of selling your home and moving, but considering the following signs, it may be a great time to pack up and move along. These are 6 great signs that it is indeed time to sell your home, pack up, and move on to something and somewhere new:
- Your Neighbors Made Bank Selling Their (Similar) Property: If any of your neighbors have sold a home at around the same size, in the same neighborhood, and with the same bathroom/bedroom count at a price you would be thrilled to receive, that may be a clue that the market is currently favorable to help you sell your home. A real estate agent can come see your property and usually provide you an estimate on what your home would sell for in it’s current condition for a minimal fee or even for free.
- You Have More Children Than Bedrooms: As the kids grow up they will likely want their own space. If they are younger and sharing a bedroom now and moving to a larger home with more bedrooms is affordable, the extra space may be something that pays off for your family in the future.
- Additions To Your Home Are Not Possible: If you are short on space and cannot add more space to your home due to the size of your property, that is a surefire indication that it is time to move on. Moving can offer more space without the added headaches of adding an addition to your current home.
- You Feel The Need To Downsize: On the other hand, empty-nest families or families who have had a family member or two move out may mean you need less space than you currently have. Moving to a smaller residence can save not only money but also time that you would otherwise spend maintaining a larger home with space that you don’t need.
- Consider Interest Rates: Interest rates are rather low right now so you will be lowering your monthly payments and paying more towards the principal value of the home than the interest rates if you purchase a home. Considering the difference between a new interest rate as opposed to your current interest rate, it may be worth buying a home now. You will be able to afford more home for your money with less interest add.
- Some Home Remodels Add No Significant Value: If you have an older home, some updates may be worthwhile to the resale value of your home. However, depending on what you are looking to do to the home, it may not be worth the money you would spend on the renovation when you are looking to sell later. Talking to a real estate agent can help shed light on the updates you want to do and if they are beneficial to the resale value of your home. If the answer is no, moving on may be a better option.
For more information on when it’s time to sell your home and move on please feel free to contact us.