How to Know When It’s Time to Sell Your Home

It can be hard to know when you’re ready to sell your home. Maybe you’re eager to move and find a change of scenery. On the other hand, maybe you’ve lived in your home for years or decades and it’s hard to objectively tell when it’s the right time to let go. However, timing when it comes to selling your home is as important as timing in buying a home. If the housing market is wrong when you list your home, it may be on the market for months. If your finances aren’t ready, you could easily find yourself overwhelmed. Here are a few ways to know that it’s time to sell your home.

You Have Positive Equity

Don’t even consider selling your home without first figuring out how much equity you have. Equity is your home value less the amount of money that you owe on the home. In a housing crisis, many homeowners have negative equity, which means that paying off their mortgage would cost more than they would be able to get for the home. This is obviously not ideal unless you’re simply desperate to move. Ask a real estate agent to come up with an estimate for your home’s market value and compare that with the amount you still owe on your mortgage. Are you in the black? Then you’re probably safe to sell your home.

You’re Prepared For Obstacles

Everyone would love their home sale to go off without a hitch. They find the right real estate agent, list their home, and find the perfect buyer who makes a fair offer almost right away. However, it’s most likely that you’ll run into one problem or another when trying to sell your home. Maybe you struggle to find the right buyer. Maybe you need to make major renovations before you can list the home. Or maybe you receive an offer that seems perfect right away or multiple offers at the same time, but you want to ensure that you don’t rush into things. Do you know how you’ll respond to these obstacles? Discuss with your realtor common problems that might come up when selling your home and how to approach them.

You’re Emotionally Ready

Your feelings do matter when it comes to selling your home. After all, selling can be a stressful process, as well as a draining one. Your home is full of memories, and sometimes it can be hard to let go of those memories, even when you have to. Take some time to make sure you’re emotionally ready to let go of the home. If you live there with your family, sit everyone down and discuss the move so that you can know how everyone feels. You can discuss where to go in the next chapter of your life together, and you may find yourself excited about what comes next. Selling your home may not ever be easy, but you can be sure that you’re ready to move on before you do.

So is it the right time to sell your home? Talk to a College Station realtor today about how to ensure you’re ready and the steps to take to ensure a successful sale. How to Know When It’s Time to Sell Your Home