Have you thought about selling your home, but aren’t quite ready to make the leap?
Here are some things to consider when deciding if it’s the right time to sell.
Motivation. “Let’s see how much we can get for it…” Before you test the market by leaping into a listing, ask for a free home valuation from an agent. This is quicker than listing and can even help you choose the right agent when you decide to sell.
Changing family. One of the biggest motivations for selling is when your family changes size. If your family is growing, or if the children are finally out of the nest, you may consider selling and relocating to a home the right size for your family.
Finances. What’s your financial situation? How much equity do you have in your home? If you sell, will you be able to buy the replacement home you want?
Maintenance. Older homes need a lot of upkeep and the costs add up. You may consider buying a new home to save money and hassle.
What’s next? Having a plan in place for your next home is essential. No matter your reasons for wanting to move, if you don’t know where you want to live next, you’re not ready to list your home for sale. Find the right place by compiling a list of the desirable attributes of your next home (i.e. good school district, closer to work, new neighborhood, etc.).
Take stock of your home’s condition
Whether it’s a persistent creaky stair that you’ve tuned out over the years, an ivory area rug that was once white, the popcorn ceiling that screams “1980s” or the cracks in the foundation that you’re just not sure about, there is a whole range of little and big issues that contribute to the condition of your home. A fresh set of eyes can help open yours to the things you might not think are issues (or don’t want to think of as issues). Call upon a friend to join you on a walk-through room-by-room to note anything in need of a repair, a refresh, or a replacement.
To get a more accurate idea of the condition of your home — especially if you’ve spent decades in your home — consider a pre-listing inspection. It’s similar to a buyers inspection that’ll come up later in the home selling process but will give you an accurate inventory of potential issues you may want to address before your home goes on the market.