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Signs that Now is the Time to Sell Your Home

is now the best time to sell home

There are many reasons why it may be time to sell your home. You may need more space to make room for a growing family or you prefer to downsize after your kids left home. Whatever your motivation, you want to make sure that you’re timing it right.

If you sell when home prices are plummeting, you may lose valuable equity. If you sell when home prices are highest, there may not be a lot of buyers looking to move. So how do you know when it’s a good time to sell?

An experienced real estate agent can help you determine if the market puts you in a good place or not. But for your own personal situation, here are the signs indicating that now is the best time to sell your home.

You’ve Outgrown Your Home

Whether you are expecting another child, caring for an aging parent, or have taken in your adult children, when you’ve outgrown your home, it may be time to sell. Consider the permanency of the change. Will the kids be there for a long time? How long will you be able to care for your aging parent? Buying a bigger home is one of the main reasons most homeowners choose to sell.

You Need to Make a Change

Change is inevitable. Maybe you have to move for professional reasons or you want to be closer to family. When change entails moving, then a home sale becomes necessary.

Home Prices are on the Rise

This is one of the riskiest reasons to sell your home. Sure you may get more than you ever dreamed for your home when prices are on the rise, but that also means that you will pay more for another home. Perhaps your real estate agent can help you find a home in another state, where prices are more affordable. Then you will have made both a profit and a smart move.

You Need to Downsize

Many homeowners are selling in order to downsize. The baby boomer generation is moving into their golden years. The kids are all out of the house and boomers just don’t need all that space anymore. Selling now could add a nice healthy sum to your nest egg as well. As long as you are smart about how much of that profit to spend on a new place, downsizing could be just the right move for you financially.

You Can No Longer Afford Your Home

Sadly, there are homeowners who just can no longer afford their home. Whether it is due to divorce, illness, a death, a skyrocketing mortgage payment, or the loss of a job, change in your financial circumstances is a big red flashing sign that now is the time to sell your home. Waiting any longer could have catastrophic financial consequences.

In any situation you find yourself in, an experienced agent is the key to helping you achieve your goals. Learn more about how to determine if now is the time to sell your home by speaking with Phyllis Harb today. 

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