It’s not an easy “yes or no” answer when deciding to sell your house. Each seller has different personal, financial, and economic concerns to address. Here’s a quick guide with six considerations to make when deciding whether to sell your house or not:
- You’ve Witnessed Strong Local Pricing Growth
If your community has had strong pricing growth in the past few years, it might be a good time to sell. Compare the average sale prices (or ask a Realtor®) to gain insight into the strength of the local housing market.
- The Listing Lines Up With Seasonal Trends in Your Area
According to Bankrate, June yields the highest percentage return relative to fair market value. However, real estate is a hyper-local business, so seek out a local agent’s opinion on the market.
- Your Current Home Is Too Big or Small
Having a home with unused rooms or excessive foot traffic can make the decision to sell your house easier. Homeowners with unused rooms are paying for square footage they don’t need and could downsize. On the other hand, growing families need more room. If you’ve recently added members to your family or just feel the space isn’t adequate for your belongings, an upgrade is an effective way to expand your footprint.
- The Payments Are Too High
If a home is putting too much financial pressure on you and your family, an adjustment might be necessary. Our daily variable costs can be difficult to control and are oftentimes unpredictable. However, if you downsize or decide to rent, it can ease your financial strain.
- You Want To Upgrade or Move To a Better Neighborhood
Selling your home doesn’t always have to be backed by a specific reason. Sometimes you just want to upgrade and have the necessary liquidity. Moving into a better house is a great reason to sell and it can instantly improve your quality of life.
Related Articles:
Need to Sell? Here Are a Few Good Reasons Why People Sell Their Homes
