Selling your home takes time so if the signs point to yes, you should start the process now. It’s hard to decide however when is the right time to take that plunge and sell your home. Is the market right? Do I need a change? Is now the right time in my life? These are all questions we ask ourselves when trying to make this big decision. To help you find the answers and tune you in on what to look out for when selling your home, here is a list of 5 signs that you’re ready to sell your home.
- It’s still a seller's market. The seller’s market from 2013 is predicted to continue into 2014. The market is cooling down with inventory expected to grow, but sellers should still expect multiple offers and a market in their favor. With inventory just now on its way up, it’s the perfect time to put your house on the market – before it’s flooded.
- Your home is appreciating – and you’ve built equity. Homeowners gained $2.2 trillion in equity in 2013 according to new data collected by the Federal Reserve, rising prices bringing 2.5 million previously underwater homeowners back to positive equity. Home values have been coming up for the past two years and now the state of California has just a 13% negative equity rate. Prices are expected to continue rising in 2014 to lift even more homeowners into positive equity situations. With the equity you've built in your home, you can put it toward a down payment on that home you've had your eye on.
- Your life demands something new. Whether you’ve been struggling with a long commute to work, wishing you were closer to your loved ones or longing for a nicer neighborhood to settle in with your family, it’s time to make a change. Whatever the reason is now is the best time to relocate to make your life more convenient, and most importantly happy. If your life has changed but your living situation hasn’t, 2014 the time to play catch up.
- Space is an issue. Maybe you need more space for your growing family. Maybe you’ve got too much in your empty nest now that the children have all moved out. Either way, it’s time to let your living situation catch up to your special needs. It’s not smart to add stress by living in a home that’s cramped and too small or waste money and energy on space that’s not needed. Evaluate your situation and if your space is creating issues for you, it’s definitely time to move.
- You want to. Selling your home is a personal decision. The best time for you to sell is when you feel that it’s right. If you want to sell your home to cash in on your growing equity or if you’re just looking forward to something new, then it’s time to do it! If you want to sell your house, then that’s a pretty good indication that it’s time.
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