Selling your home is a momentous decision. Selling (and, subsequently, moving) are things most people do after careful consideration and planning. How do you know it it’s time to sell?
If you’ve toyed with the idea in recent months, check out our questionnaire to find out if the signs are pointing you in the direction of “sell” or “stay.”
- Interest: Have you had interest in your home from friends or neighbors? Friends or family may have mentioned that they’d love to buy a home like yours if you ever sell. You may have also received inquiries from shoppers in your area. If you’re noticing your home has some great buzz, make the best of it and sell at this opportune time!
- Home Equity: Have you built up great home equity? Do you know how to calculate your home equity? Subtract the amount you still owe on your mortgage from what comparable homes are selling for. This is your equity. If that number looks like a good one, it may be a great time to sell your home. If you're not sure what your home is currently worth I would be happy to provide you with a FREE valuation.
- Family Dynamics: Are you about to experience a change in your family’s makeup? Are you about to get married, have a new baby coming, becoming empty nesters, or about to take on an aging relative? If your home cannot comfortably accommodate the changes or is now too much for you, then a frank discussion about selling is on the agenda.
- Location Change: Does your career or family situation mean that you need to make a move? Have you taken a job that’s no longer within a reasonable distance? Should you move closer to family who needs you? If your answer is yes to either question, your location needs to change.
- Financial Situation: Has your financial situation changed recently? You may have recently earned a promotion or had a dramatic increase in your bank account. You may also have recently taken a job that pays less or you want to simplify your spending. Changes of any kind to your finances can either make a move necessary or something you’re finally able to do. With the help of your financial advisor or accountant, determine whether or not a move would be well timed financially.
- Community: Do you find that your neighborhood or town no longer suits your needs? Your neighborhood may have been great when you were single or didn’t have children. Whether you need to be closer to amenities or further away from the bustle of a large community, location is important. If a community doesn’t fit, it’s time to think about selling.
- Area Homes: Have you seen neighbors selling comparable at incredible prices? You may find that neighborhood homes are selling for prices you didn’t even know possible. If you’re seeing that now is a great time to sell, take advantage of the uptick in prices along with the exciting spring selling season!
- The Market: Is the market hot right now? Spring is the best time of year to sell. Buyers are searching and are unable to find great homes like yours. Take advantage of the spring fever infecting the home buying market and sell while buyers are in the mood to buy.
- Remodeling: Does it no longer make sense to remodel? You could add on a bedroom or that extra bathroom to suit your needs, but is it worth it? Will you actually recoup the price when you sell? Give me a call and we can discuss if pricey additions or remodels are worth it in your area. You may find that it makes make more sense to sell and move.
- Schools: Do you need to live in a different school district for the sake of your children? Do you live in the district that has the schools in which your children can thrive? If you don’t like the schools near your current home, consider selling and moving to an area with schools you’ll love.
- Home: Does your home still work for you? Do you have enough square footage? Is your home full of space but the layout isn’t working well? You may love entertaining but lack a great spot to host or lack the yard space your active family desperately needs. Honestly assess your home and see if it’s still a good fit. If the answer is no, then selling may be the best choice.
Changes in finances, location, and family dynamic are some of the most surefire signs to tell if you’re in need of a change. You may find that it’s a good time for you to think about selling your home to a great Bergen County buyer. Call me if you’re still on the fence. I can walk you through the process and help you make the right decision. I can coach you moving forward in the selling or buying process. I’m excited to make sure you’re in the home that’s perfect for you.