6 Surefire Signs It's Time to Sell Your Home

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Most people don’t plan on living in their first (or second or maybe even third) home forever, but knowing when the time is right to put that baby on the market can be tricky.

In fact, it can feel kind of like breaking up with a longtime boyfriend or girlfriend. Deep down, you knew you wouldn’t be with that person forever—but ending things can be way easier said than done.

Sometimes life changes force the issue: There’s little reason for self-doubt or trauma-level angst if you’re relocating to another state or you know your newborn twins won’t fit in your one-bedroom bungalow. But without a pressing reason staring you in the face, it can be hard to know when you’ve outgrown your home.

So how do you know when it’s the right time to let go?

1. You’re feeling cramped, and you can’t add on

Your family might not be growing, but that doesn’t mean your lifestyle still fits in your current house.  If you’ve started working from home, for example, or you’ve adopted an extended family of indoor cats—or maybe you’ve just never gotten over your dream of having a sewing room—your house might be too small.  But before you jump to conclusions, see if paring down your possessions works to free up some space.

2. You have too much space

On the other hand, perhaps you’re feeling overwhelmed by vacant rooms and silence. (Hello, empty nesters!)  Saying goodbye to a family home can be difficult, but you should consider how feasible it is to stay. If yardwork and house upkeep are getting to be a little too much, or soaring utility bills are cramping your style, it might make more sense to move.

3. You’re over the neighborhood

Maybe you can no longer deal with the rigid rules of your homeowners association, or perhaps your neighbors turned their house into a rental for frat guys.  Whatever the reason, neighborhood dynamics can change dramatically over time.  And sometimes, you can change. Maybe the 40-minute commute to work didn’t seem like such a big deal the first few years, but now you’re dreading it every day. Or your kids are getting older, which can be a big problem if you’re not in the right location.  Moving may be a benefit to your child’s education.

4. Remodeling won’t offer a return on your investment

Giving your kitchen or bathroom a face-lift can make your house feel like new again, which might be all you need to decide you want to stay put for years. But that doesn’t mean it’s a financially sound decision.  If your home is already similar in style and condition of some of the priciest homes in the neighborhood, remodeling might be a bad idea, and you should consider selling instead.

5. You can afford to sell

Sure, you’re going to make money when you actually sell you house, but as the adage goes, it takes money to make money. So seller beware: You probably won’t be sitting around and waiting for the dollars to roll in.  Most sellers need to make some minor improvements such as painting, landscaping, or updating flooring to get a good price on their home. Those costs will come out of your pocket at first, so it’s a good idea to have a cushion before you start.

6. You’re ready to compete

If you’re living in a seller's market, you might be enticed to offload your home before things cool off. But don’t forget—once you sell, you’ll probably be a buyer, too.  If your market is hot, your home may sell quickly and for top dollar, but keep in mind the home you buy also will be more expensive.

If you’re going to get out there, you should make sure you’re ready to compete and seek the advice of an experienced Realtor. 

Categories: Home Selling
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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