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Going, going, gone…
Six Signs it’s Time to Sell Your House!
Moving is stressful; most of us try to go as long as possible between having to do so. Even if we want to move somewhere new or move to a bigger home, the thought of putting our current home up for sale is daunting. There’s just so much to do! This is probably why, according to the National Association of Realtors, most people own a home for 13 years before moving on.
If you’ve been feeling the itch to move on from your current home, but aren’t sure if it’s truly the right decision, this article will help you make some key considerations so you feel good about your decision.
1) Major life changes:
This is numero uno – life moves on and so do our housing requirements. We change jobs, have a family, and get older; any of these might mean it’s a good time to sell and find a home that better suits our needs. Here are some life changes that may mean you’re ready to sell your home:
- Are thinking of, or have recently had, a baby
- You want a lifestyle change, such as moving to the country to try homesteading, moving to the mountains so you can hike, moving to a new city, or to the beach
- You have an elderly parent you want to move in with you
- Your family has grown up and you’re not using much of the house
- You have got a new job and the commute is too long
- Your children are about to go to junior high or high school and you want them to get into a better school
- You’d like a bigger yard so you can garden
- You’d like more space so you can get a dog
- You want to move to be closer to friends/family
We often belittle our wants and needs, such as wanting to move so we can live in a more rural area or drive 30 minutes less each day, but these seemingly little things can greatly improve our quality of life.
2) You’d prefer another neighborhood:
Neighborhoods evolve and so do our needs. When you are younger you may want a house in a busy area where there’s lots to do – restaurants, gyms, cinemas, and theaters. If you have children you will want good schools and neighbors who also have kids. Later on, you may want somewhere quieter surrounded by people like yourself, or vice versa.
Again, moving even just ten or fifteen minutes closer or further from your closest town or city may give you a new lease on life.
3) It’s a seller’s market/cash-in your chips:
If the houses in your area begin to rise in value and spend less time on the market than normal, it may be a good time to sell and maximize your profit. If you time it right, you can get top dollar for your current house and buy somewhere where the housing market is a little slower. If you can combine this with low-interest rates then not only will you find selling easier but you should be able to get a good deal on your new mortgage as well.
The only caveat here is to make sure you’re not getting swept away just by the prices – make sure you also have been thinking about living somewhere else or have been finding your current home upkeep a little too costly for comfort. The last thing you want to do is sell purely for money and then find you wished you hadn’t.
4) You’re finding it financially difficult to stay where you are:
None of us are immune to the current increase in the cost of living. Gas prices have rocketed and even the cost of our weekly grocery store trip is 13% more expensive. Energy prices are another big sore spot and if your house isn’t particularly energy efficient (and you can’t afford to make it so), it may be too expensive to stay in.
There’s nothing wrong with selling a house because it’s become too expensive to keep. You can likely find a new home that you love just as much in an area that’s a little cheaper or with less square footage.
5) You feel like there’s more bad memories/karma than good:
When you think about it logically, it seems strange that so many of us pride ourselves on our ability to endure negative or even traumatic experiences. We often feel as though to drastically change our circumstances would be “running away”, or “letting the bad guy win.”
But if your home – your safe space – reminds you of more bad (or even simply sad) things than good, why would you stay? Your life isn’t an endurance test, it’s to be enjoyed. Similarly, if the home is inherited, you don’t owe it to a deceased family member to stay there. You can live with gratitude for your home and your past, and still move on.
Whether you’re living in your childhood home, living in the home you and your ex bought together or living in a neighborhood where you don’t feel welcome, you are free to move on to a new home. You will find a happier, lighter space to call home.
6) Selling feels like the only choice:
Sometimes selling a house is the only viable option. It may be that a new job demands instant relocation, perhaps you need to sell a property that you have inherited, or you want to simplify your life by getting rid of a property bought as an investment that you no longer have time to deal with.
Or perhaps you simply don’t have enough money to keep up your repayments on your house or need to fund an emergency. It’s not an easy decision to make and needs careful consideration. However, your house is usually your biggest asset and if you need a lot of cash quickly selling it may be your only way out of a tricky situation. But, do pay attention to potential capital gain taxes!
Still unsure when or if to sell or for how much?
That’s where I come in!
I encourage you to reach-out for help, whether buying or selling!!
