Is it time to sell your home?

Is it time to sell your home? Very few home owners stay in the same house forever, and selling is a common part of homeownership. However, how can you know whether this is the right time for you? This is a hard decision to make, and it is not one you should take lightly. If you are thinking about selling, here are some guidelines to help you make the right choice!

Are market conditions favourable to sell your home?

One of the first things home owners often consider when they are thinking about selling is the current market conditions. Is it a good time to sell your home in terms of today’s real estate trends? Of course, this shouldn’t necessarily be the factor that drives your decision. However, it can help you gain some perspective on how your property might do on the market if you decide to list it. 

In general, spring and summer are the busiest times in the market for both buying and selling. This gives you an advantage over trying to sell in the winter, because you are more likely to attract buyers who are interested in your home. Of course, this also means there will be a higher number of sellers on the market, so you will need to make your home stand out against the others up for sale. This is where completing necessary renovations, staging your home, and finding the perfect listing price all pay off! 

Property considerations 

Although it is a good time to sell, does this automatically mean you should put the “for sale” sign in your yard? People choose to sell for a variety of reasons, and it’s important to ensure selling is the best solution for you. Take some time to think about what you think your home is missing, and why you want to leave it. Sometimes, the house itself isn’t the problem, and selling won’t necessarily improve your situation. 

For example, you might be feeling like your home is too small. Maybe you plan on growing your family or housing your older parents, and you don’t have enough room for everyone to live comfortably under your roof. This is a situation where selling is probably a good move, as you have a clear issue that cannot be easily solved in your current residence. However, what if you just don’t like the style of your house anymore, and feel like you have outgrown it? Sometimes, this can be fixed with some cosmetic changes and renovations. Most people take on home improvement projects at some point, because their styles evolve. You don’t always need to sell your home just because it no longer matches your aesthetic preferences. If you do, you will likely face the same problem in a few years at your new home. Be sure to take the time to think carefully about why you want to sell your home, and if it makes sense.

Considering your future

If you are serious about selling your home, you also need to figure out where you’re off to next! It’s easy to get caught up in the whirlwind of selling, from finding the right real estate agent to setting your asking price, staging your property, and attracting buyers. However, don’t forget that you will need somewhere to go once your home sells. Take the time to sit down and evaluate your options. For example, do you want to buy another house, or are you planning on renting? Do you want to stay in the same area? What is your budget? You also need to make sure your next home doesn’t have any of the issues that are driving your decision to sell your current property, whether that involves size, location, etc. 

If you decide to sell your home, and you hope to buy a new property, your next step should be to reach out to a mortgage broker! Being both a buyer and seller can be stressful, but we are here to take away your anxieties and ensure your buying experience is a smooth one. There are lots of decisions to make, but you don’t have to do it alone. Whether you are a first-time purchaser or a repeat buyer, it’s always a good idea to use a broker. Now is the time to reach out to ensure you can hit the market with confidence!

If you have any questions about your mortgage, give us a call at Centum Home Lenders! You can reach us at 506-854-6847, or get in touch with us here.