When you need to move for work or to be closer to family, the decision to sell your home is often made for you. But if you're just considering a move across town or making an upgrade to a larger or more luxurious dwelling, you have a bit more flexibility as to when you sell your current home. Is now the time, or should you wait a few months or years? The answer is not always clear. Here are three questions to ask yourself and to explore; your answers will help you arrive at the best decision.
Is your home market-ready?
Could you list your home as-is today and attract a buyer, or do you need to do some work to it first? Some common "problems" that should always be addressed before you list a home include:
Messy landscaping. This will turn off buyers before they even walk in the front door, so you'll want to have a landscaper clean everything up.
Colorful rooms. If any rooms are painted bright pink, neon green, or another color that a potential buyer may find off-putting, you'll want to give them a nice coat of neutral cream or gray before you list the home.
Holes in walls. Patch any holes left from banging into the wall with furniture or a child making a head-dive to catch a football.
Broken hardware. Any cabinet hinges, door knobs, leaky faucets, or other small maintenance issues with hardware should be fixed. If potential buyers notice problems with little details like these, they may assume there are bigger issues with the home, too.
If your home does not have any of the issues above and you're confident that you could list it as-is today, then now may be the time to sell. On the other hand, if you need to make a few changes before listing the home, it's worth your while to spend a month or two making those changes—and then list the home when they're complete. Otherwise, the house may sit on the market for months or you may get a lot of low-ball offers.
Do you know what you're looking for in your next home?
Coordinating the timing of selling a home and buying a new one is not always easy. You need to find a new place to live by the time the new owner is ready to move in. If you don't know exactly what you're looking for in your next home, you might not be able to find a new place in time to sell your old one when a buyer comes along.
Sit down with your real estate agent, and hammer out a list of the specific qualities you're looking for in your next home. Then, start house hunting. When you know exactly what you're looking for and are confident you'll find a new home to purchase within a month or two, then you can list your home.
Do you have the time to sell?
Hiring a real estate agent makes selling a home a lot less time-consuming, but it is still a rather burdensome endeavor. You need to be around to coordinate open houses, accompany your realtor as he or she takes photos, and keep the home clean and presentable when potential buyers come to view it.
If you're really crunched for time right now, it may not be the best time to sell. Try unloading your schedule by cutting back on unnecessary hours at work, letting go of a side project, or temporarily pressing pause on a recreational activity or to. Then, you'll be prepared to give your home sale the time and attention it requires.
For more information, contact local professionals like brown real estate consultants.