You are probably hesitant to sell your home for a variety of reasons. Selling your home is a major decision and it is not an easy one to make.
If you’re considering selling your home but wondering if it is the right time, there are a few different signs that indicate you’re ready.
Have you outgrown your home?
This question is probably the easiest one to answer. Maybe you have had a few children since first purchasing your home and you physically don’t have enough space in it anymore. Or maybe you no longer need all the space you have since your adult children have moved out. Whatever the case, you should ask yourself if your home still works for you and your family before deciding if you want to move. It will force you to evaluate what you like and don’t like about your home. If you spend most days frustrated with the amount of space you have, it might be a sign that the home just don’t work for you any longer.
Do you have equity in your home?
Many people who purchased homes in the late 2000s before the housing bubble burst found that they had negative equity in their homes in the immediate aftermath of it. This means that their homes were worth a lot less than they still owed on them. Fortunately, the housing market has rebounded, which means many of those same people no longer have negative equity. But before selling your home, you should see if you have the equity you’ll need to avoid costing yourself money when you move. You should also take a look at your finances and make sure you are stable enough to buy a home in the near future.
Are other homes in your area currently selling?
The real estate market as a whole has been fairly strong in recent years. But before you move, you should take a look at your local market to see how homes are selling and what kind of prices they’re bringing in. This will help you gauge what you can expect to get for your home once it goes up for sale. If that price is doable for you and you are ready to move, then now might be a great time to go ahead and list your home.
For those still debating whether or not to make a move, Big Sky Brokers can help you decide. We can speak with you about the local real estate market and assist you as you strive to make a final decision with regards to selling your home. Call Dan at 406-439-5414 or Jeanne at 406-439-0303 today to get started.