The news is constantly talking about the sellers market we are in. People are talking about how homes for sale are receiving multiple offers well above listing price. Agents may even be knocking on your door telling you they can get you highest value for your home… BUT are you ready to sell?
Many sellers are torn between the memories holding them in their homes and the equity and cash they may get if they sell. Before you meet with an agent, like myself, or before you decide to sell consider these three things. Determining whether you are ready to sell your home is a personal/family decision but hopefully some objective thought can help guide you.
I am often times asked “When is the best time to sell my home?” Here are three things to consider.
The Competition
To start, drive down your street and around your neighborhood and take notice of how many homes you see for sale. Next jump on Zillow, Realtor.com or your favorite real estate site and check your neighborhood for active listings. Take note.
One of the best times to sell your home is when there are little to no competition. You want your property to stand out and attract as many buyers as possible. When there are no other homes (or very few homes) on the market when you list it limits the competition you will have and therefore it limits the selection for buyers as well.
Limited inventory could potentially drive up the price of your home. This may be a reason to sell now.
Are You Ready
Selling your home is a big undertaking. It potentially will require decluttering, packing, showings, inspection, appraisal, etc. Are you ready to add those things to your current life and stressors. It is an agents job to make the process as smooth as possible but the main question is whether you want to go through the process.
Is your family/spouse on board? Often times families have mixed emotions on considering selling. The bottom line is if you are ready to make a change in your housing- whether that is a new neighborhood, a new state, an upgrade or even a downsize- then now is a good time to consider selling.
Next Steps
When considering whether you want to sell it is important to think about what are the next steps and how can you prepare for them.
- Determine your goals for selling
- Think about where you will go once you sell
- Interview and hire an agent to list your home
When you are going to sell your home it isn’t just stick a sign in the yard form an agent and hope it sells. Thee are next steps and making sure you are prepared for them is important when determining if now is the right time to sell.
Selling your home is a HUGE decision and not one to be taken lightly. The market is a hot place and buyers are out shopping. BUT the most important things to consider is the competition. are you ready and what are the next steps. There may be the next family ready to make memories in your home… is it time to sell?
Cheers,
