For most people, it was obvious when the time came to buy a home.
They got married and had kids, or they simply saved up and finally had enough money to make a down payment on the house they wanted.
Unfortunately, the vast majority of homeowners don’t enjoy the same amount of certainty about when it’s time to sell. After all, it’s a big decision that once made, can’t be undone.
The good news is that plenty of other people have been in those very same shoes. So, if you’re not sure now is the right time to sell your home, there are some telltale signs that will make it a lot easier to know if it’s the correct choice.
4 Signs You Should Sell Your Home
While this kind of decision should still involve a fair amount of thought and consideration of factors unique to yourself, here are four reliable signs you should probably sell your home soon.
1. You’re in a Seller’s Market
Perhaps one of the most important factors to consider before you decide whether or not to sell your home is the status of the housing market in your area. If it’s a buyer’s market, you should probably hold off. Unless you absolutely need money right now, you’re most likely not going to be happy with the offers you get when buyers have the upper hand.
When it’s sellers who can call the shots, that’s a different story. Even if you’re only lukewarm on the idea, if your local market currently favors sellers, you may want to take advantage of this opportunity before it disappears for some time. It could be years – even a decade – before the balance of power swings back to your side.
Here in Philadelphia, it is definitely a seller’s market at the moment. Actual bidding wars are breaking out over homes as the number available is hovering just above record lows. Therefore, no matter what kind of condition your property is in, it’s probably worth going ahead with a listing just to see what kind of price it could attract.
2. Interest Rates Are Low
Even with four hikes since 2015, interest rates are generally low and may even drop in the near future. It’s good news for homeowners who want to sell because low-interest rates make mortgages more affordable, which means there are more potential buyers in the market.
Combined with the current seller’s market – especially in places like Philadelphia – make it a great time to sell your home because of the high price you’ll most likely be able to command.
3. You Need the Money for a Financial Obligation
Economic conditions may not matter to you as much if you’re considering selling your home because of reasons related to personal finances. As most people’s greatest assets are their houses, it makes sense that they often sell theirs in order to free up cash they can put toward other financial obligations.
Common examples are unforeseen healthcare costs, bankruptcies, or even to help pay for their children’s college educations.
Whatever the case, if you sell your home, you’ll most likely have quite the windfall to look forward to and the added benefit of not having to pay what may have been an overwhelming mortgage every month. You can now downsize to something more affordablewhile putting the proceeds from your sale toward whatever obligation is currently looming.
4. It’s Time for a Change and Has Been for a While
You never want to be impulsive when it comes to selling your home. As we covered earlier, it deserves a good deal of thought.
Still, if you’ve been returning to this same thought again and again, it’s probably time you move forward and sell your home.
For a lot of people, that “change” means moving to a new town or even a different state. Others simply realize they no longer want to put up with the pressures of having a mortgage and would like to return to renting for the near future.
Whatever the case, if this isn’t your first time giving this topic serious thought, it’s most likely not one that’s going to go away.
The Easiest Way to Sell Your Home Quickly and for Top Dollar
Of course, plenty of people decide it’s time to sell their homes every single day but never actually take action and do it. It’s because it generally requires getting through a long list of steps before the listing can even go up. Then, there’s everything from showing the home to negotiating the final price.
In short, selling your home tends to be a very long, frustrating process.
It’s why we started our company, Problem Property Pal. If you want to sell your home right away, we’d love to hear from you. We even buy homes that aren’t in great condition, so there’s no need for you to spend your money on costly repairs before you try selling it.
Our team always pays in cash and we can usually make the entire payment within just a few hours of viewing the house.