Deciding to sell your house is not easy, but sometimes it is the right thing to do. Consider these three indicators to help you determine if it’s time to sell your house.
1. It’s a seller’s market
A seller’s market is when sellers have an advantage, usually based on low supply and high demand. Low supply is caused by factors such as new construction being down and existing housing being tied to extremely low (less than 3%) mortgage rates. Demand can be high based on things like the strength of real estate as an investment, population growth, and high employment rates. These conditions currently exist in many parts of the country. Additionally, demand picks up in the spring and summer seasons, when the weather is nicer and kids are going to be out of school. If it is a seller’s market in your area, it may be a good time to sell.
2. The house is a drain
Owning a house requires continuous maintenance, which can be both time-consuming and exhausting. This is especially true for older homes. If you are struggling to maintain the house, it may be time to sell. One option is to move into something smaller to reduce the amount of maintenance required, or even to move into a condo or rental, where someone else may be responsible for maintenance.
3. It no longer fits your life situation
Your life situation may change over time. You may want a smaller house for retirement, a cheaper one after a job change, or a larger one for a growing family. If your current house no longer fits your life situation, it may be time to sell.
Although not an easy decision, selling your house can put you in a better position financially, physically, and mentally. If you are experiencing any of the above indicators, it may be time to consider selling.
Since we buy homes, feel free to reach out to see what we can do for you!