Choosing the best time to sell your home is both an exciting and stressful decision. From the financial to the emotional, selling a house affects all aspects of your life. However, the choice doesn’t have to be so complicated. If you’ve found your eyes wandering over to the current listings on more than one occasion, here are a few suggestions to help you decide if now is the time to sell:
You’ve Outgrown Your Living Space (or Need to Downsize)
If you look around and are overwhelmed by a lack of space, that’s a sure sign that it might be time to consider selling. New babies, growing children, or even a desire for a specific type of room, like a home office, can be a motivating factor in deciding to sell a home. On the other hand, you might find that you’d like to downsize your home to a smaller space. Either way, if your living space no longer makes sense for you, it might be time to sell.
You’re Financially Ready to Sell
Finances and home selling go hand in hand. Check your credit scores, monitor your savings accounts, pay off non-mortgage debts, and keep in mind any expenses that may arise during the selling process. For instance, you might want to spend money to touch-up the home before open house.
Equity is one of the most common reasons for deciding to sell a home. Having enough equity means that your home is worth more than you currently owe. To determine your equity, you subtract the amount you still need to pay on your mortgage (check your statement) from the current market value of your home. Not sure about the current market value? Speak with your real estate agent. He or she can help you determine if you have enough equity to sell your home by performing a comparative market analysis.
You’re Ready for Change
Sometimes, you’re just ready for a change. If you’re dreaming of a different home, neighborhood, or amenities, then selling might be just what you need. There are situations when selling is a better choice than remodeling. Talk with your real estate agent about your plans to determine the best option for your specific situation.
Before selling your home, it’s also important to make sure that you and your family are emotionally ready to sell your house. There are often strong memories attached to homes. You may need time to decide that you’re ready to make memories in a new house.
You’ve Spoken with a Real Estate Agent About the Housing Market
Real estate agents can give you insight into the 2020 housing market in your area of Maryland. They can also talk with you about how to potentially increase the resale value of your home. The expert real estate team at VSells & Associates will guide you through the selling and buying process. We know what an important time this is for you and will offer our wealth of knowledge as you pursue your dream home.
Contact VSells & Associates today for more information on taking the leap and selling your Maryland home this year.