5 Signs It's Time To Sell Your Home

Call Firks 1st®

Buy | Sell | Prosper

Putting your beloved home on the market can be a scary idea. And even more so when you’ve got years and years of fond memories covering every inch of the place. But then, life happens! Your plans change, opportunities come up and take you in an entirely different direction, or you see that you’ve started to outgrow the space, and you suddenly feel nudged to pack your bags and move on to the next chapter in your life. However, if you aren’t 100% sure whether this is the right move yet, let the following five tell-tale signs clear things up for you. Scroll down for five signs it’s time to sell your home.

1. You’ve outgrown your home

You know it’s time to sell your home when you simply cannot envision yourself and your family growing living in that size of space for much longer. You’re constantly tripping over stuff and running into more stuff. It’s getting too crowded, messy, and overall, chaotic. And, no matter how hard you try to keep everything spic-and-span, the house looks like you haven’t done a thing day after day. Finally, although you love your spouse and your kids, sometimes it would be nice to have some time – and room – just for yourself and the things you love to do. Are you nodding your head right now? Then it’s probably time to face the music and give one final nod on putting your home on the market.

If with each new arrival your home seems smaller, it’s time to sell your home and upsize.

2. The upkeep is just too much

The same holds vice versa. If your home has become too big and expensive for you, you may be ready to downsize. You're ready to get away from those endless to-do lists, unexpected repairs that keep coming up, and maintenance services, such as landscaping, septic service, snow removal, et cetera. And let's not even begin with property taxes and mortgage payments draining your savings account in the long run. Yes, that's your cue! It's time to sell your home and move somewhere smaller, and cozier but more affordable and more manageable as well. Life's too short to be unhappy with your home, they said.

3. You’re financially stable

The timing to sell your home is only suitable if your finances are in order. Ideally, you are debt-free, have an emergency fund, have built up enough positive equity, and can afford the costs of selling your current and buying a new home comfortably.

This is even more important if you plan to move somewhere farther away or upgrade to a bigger, more expensive home. For instance, you need to be sure that you can afford the costs of moving somewhere long-distance. That usually includes both the basics – hiring a moving company to get you there safely and those hidden costs of moving such as insurance, stair fees, bulky items fees, storage, etc. Also, if you’re ready to upsize: you’ve hit that five-year mark, and you have equity in your current home, you need to be able to afford an upgraded home. If you can, you have the opportunity to climb the property ladder and start building your wealth. Property is always an excellent investment.

Market conditions are in your favor

Selling a property is never just about finding a real estate agent, taking a few nice pictures, putting them up, and hoping you’ll get a superb deal. Unfortunately, there’s a lot more to it than that. And one of the most important things? – making sure that the market is right.

Make sure to do your research on the market and "Call Firks 1st"® to discuss. 

As a homeowner considering selling, you will want to identify the so-called “seller’s market” signs. However, this term gets thrown around quite a bit in the world of real estate. So, it’s essential first to understand what it means. Namely, the traditional real estate market depends upon a constant stream of supply and demand. Supply entails homeowners who are selling and demand entails the people looking to buy a piece of real property. This forms a continuous cycle of correction and re-correction, which impacts the price you can put for your home and the number of days it spends on the market.

If it’s a seller’s market, the demand is high, and inventory is low. This, in turn, means you won’t have to compromise much on the price of the home because the buyers aren’t really spoilt for choice. What’s more, they may be willing to shell out for the options they do have before they miss their chance. If you’ve consulted your real estate agent and learned that the seller’s market is thriving, that is grounds for celebration. If you don’t price your home too high, you might be able to sell fast and for more money.

5. You have professionals by your side

We take it you’re not a seasoned seller. On the contrary, this may be your first time selling and buying a new home. And if that’s the case, you will want to have a professional real estate agent in your corner and at your fingerprints. This is not merely someone with adequate knowledge, good credentials, years of experience, and the right contacts. No, it is also someone who has your best interest at heart. With their advice and guidance, you’ll sell your home in no time.

With The "Call Firks 1st"® team in your corner, we'll know precisely when the perfect moment to sell your home is.

Have you made up your mind?

So, what does your living situation, bank account, market, real estate agent, and gut tell you? Is this the perfect moment to sell your home and start fresh? Or perhaps you feel like you need to be patient and wait a little longer until the stars have aligned? Hopefully, our list of common tell-tale signs it’s time to sell your home helped you reach the right decision. Best of luck!