The decision to sell your home should be based on a variety of factors that are both emotional and financial. While you should definitely pay attention to market conditions, you should always keep in mind that the choice to buy or sell a home is completely individual.
Reasons to Sell
Homeowners have variety of reasons to sell their homes. Some of these reasons include an expanding family that needs more space or a shrinking family that needs to downsize. In other reasons, your reason to sell could be purely financial; whether you’ve been recently divorced or your income has increased and want to live in a different neighborhood.
Deciding When to Put Your Home on the Market
Once you have decided to sell your home, you need to gather some information in order to determine when to put it on the market. First, find out your loan payoff amount so you have an accurate idea of what your sales proceeds will be after you’ve paid off all home loans and paid your closing costs. Next, find out the recent sales price of comparable homes in your community. You will need to meet with several real estate agents and consult about current market conditions to estimate a listing price.
Many sellers tend to put their home on the market in the spring because that is when they think the most buyers will be looking. If your home attracts families and is in a sought-after school district, you are just as likely to get offers in the winter as in the spring.
Prepare Your Home for Sale
You will need time to make repairs and improvements, to deep-clean your home, and clear away most of your possessions. It’s extremely important to recognize that today’s buyers have high expectations of your home’s condition, so don’t expect to be able to work on your home after it’s listed. Be sure to check some of our past post on how to get your home ready to sell.
For more information on selling your home, click here.