Your life is endlessly changing and shifting. From switching jobs to growing a family , our homes witness all the aspects of our chaotic lives. You may be at the point of a big decision: putting your house on the market. But, where do you start? The housing market is a completely new world for most people and not to mention, intimidating! For a house-selling rookie, you need to consider HOW to put your house on the market, WHEN the time is right, WHO will help you sell your home, WHERE your next home will be…and the list goes on!
If these worries sound familiar, do not worry! Everyone sells their home for different reasons with different goals in mind. Most importantly, no situation is the same. If you are trying to determine if the time is right to sell your home, here are four signs that it may be the right time to put your house on the market.
Point #1: The market conditions are hot, hot, hot!
The weather is changing and you start to realize that many homes in your neighborhood have recently sold. These are just two signs that the housing market is right on track!
The housing market can be tough to navigate because there is not one definitive right or wrong market or time. Understanding the current market conditions is the first step to success. You may be asking yourself, ‘when is the market right?’
Get An Expert On The Phone!
Working with an experienced agent is a great way to begin getting a sense of the market. Since buying and selling can be a complex process, you can depend on your agent to know the characteristics of the market and the most ideal times to list your home. For example, you may have more success listing your home in the springtime when the grass is green and the trees are blossoming versus listing your home in the brutal, cold winter. An expert can help you analyze your home’s location and compare it with similar homes that have recently sold. Regardless, seeking assistance can steer you in the right direction to best align your home with what buyers are after.
Schedule A Walk-Through
At The Home Seekers Group, we value transparency. With every client, we perform a home walk-through where we can look at the house through the eyes of a potential buyer. Homebuyers are intelligent, and prior to putting your home up for sale, having a sense of what these buyers are looking for can be valuable. After evaluating the current situation of a home, we are able to provide recommendations and suggestions on the best ways to present and stage your home!
Know Your Resources
In addition to speaking with an expert directly, websites like Zillow and our Market Watch tool can help keep you in the loop on the market outlook, current home inventory, and supply and demand in your area. These resources can be helpful tools for feeling out the housing market!
Be Aware Of Unique Market Situations
There are times when a special scenario plays out in an area that creates a perfect selling opportunity. For example, if the city you live in has a proposed tax increase and you are looking to sell, DO NOT DELAY. The likelihood of selling your home following the taxes raising significantly, is low.
Don’t waste your energy trying to decipher the complex world of the housing market. Our team can tackle this analysis for you!
Point #2: Your home no longer suits your ever-changing lifestyle
We grow out of things. From a pair of jeans to an old hobby, and even a home…our lives are constantly evolving and changing.
Many families find it is time for a new home for a multitude of different reasons. Oftentimes, individuals will be seeking a more convenient location for jobs, schools, entertainment, and even retirement. It is also possible that as your family grows, you outgrow your home. Your home may currently be a two bedroom, and you really need an extra bedroom. Maybe the kids have all moved out and you no longer need the extra bedrooms. Or maybe you are just looking for a fresh start!
Know Your Future Plans
Knowing your intentions and goals when it comes to selling your home is very important. Prior to putting a home on the market, we always sit down with our clients and talk about why they want to sell their home. What are they looking for in their future home? What don’t they like about their current home and/or neighborhood? Do they have family plans in the coming years? We are interested in your future plans and want to share in the excitement of pursuing those with you!
Revamp Your Current Space
Prior to taking your first steps in selling your home, it is also imperative that you familiarize yourself with the things you need to do to get your home ready to sell. Generally speaking, selling a home takes some remodeling and sprucing up your curbside. We will help you plan your projects and define your space so it appeals to the future residents. Remember, a potential buyer is most likely to take interest in a home if it is move-in ready! Professional staging is also a service we encourage to make your home ready for the open house.
Point #3: You are financially prepared
Selling a home can be a big undertaking! The housing market can be unpredictable and there is no guarantee how long your house will be on the market. When it comes to preparing your budget for the selling process, there are a few essential tactics.
Monitor Your Financial Situation
The first, determine if it is financially intelligent to put your current home on the market. Being aware of your personal checkbook and bank statements is important. However, so is understanding the economic outlook of your neighborhood and surrounding areas can be extremely beneficial. Digging into details about your current mortgage and interest rates on the home will lead you to a deeper understanding of the right time to put a house on the market (or if you should wait a few years down the road).
Know Where You Are Headed
As mentioned before, being goal oriented and planning ahead is significant when it comes to selling a home. Once your home sells, where are you headed?
For example, Tom’s home sold faster than he expected and he does not have a place to move into before he turns over the keys to his current home. Being without a home after a sale can be a real problem and oftentimes, this leads to financial stress. At The Buffington Real Estate Group, we pay attention to these fine details and make sure our clients are prepare for the next step. Thinking ahead is always a good idea in the selling process!
Ask Questions and Seek Guidance
There is no harm in asking questions. In fact, you will probably have 100 questions! Throughout the entire home selling process, make sure you are seeking out guidance and getting your questions answered. At the Home Seekers Group, we welcome the big questions, the little questions, and even the questions that seem silly! Let the experts help you and be by your side throughout this crazy time.
Point #4: Your home has potential buyers
The most ideal “sign” that it is the right time to sell your home is that it will sell…and fast! There are many ways to gauge if your home has potential to have a quick and easy sale.
Your Neighborhood Is Desirable
Within the past few months, you may have seen new families moving in right on your very own street! This is a great signal that your neighborhood is in an appropriate market to sell. Be sure to take notes and seek advice about how to align your home strategically with other homes in your area that on the market. Comparing strategies with similar homes that have sold is also a tactical way to be competitive on the market!
Your Area Is Up-And-Coming
From new developments to booming businesses, your area might be growing. When your community undergoes positive changes and has a surplus of new businesses, it is a perfect time to sell. Buyers are always seeking new opportunities, especially in the most desirable locations. Appealing to potential buyers through emphasizing the growth of the community can really seal the deal. Stay alert to changes and connect with other residents in your area will help with you know when the time right!
There are so many things to consider when you are thinking about selling a home. Understanding the market conditions, evaluating your future plans, becoming financially prepared and appealing to potential buyers are some ways to gauge if it is the right time to sell your home. It can be a complicated and confusing task, but you are not alone!
Are you wondering if it is the right time to put your house on the market? Give us a call today!