Whether you’ve outgrown your house or don’t want to deal with the hassle of home maintenance, selling your home can be a difficult and daunting task for many homeowners. It isn’t easy to determine the right time to sell your home.
However, there are a few signs you can watch out for to learn whether it’s feasible to sell your home now or in the near future. Keep reading to know more!
YOUR HOME BECOMES TOO SMALL FOR YOUR FAMILY
If you’re a first-time homebuyer with a young family, you’re bound to outgrow your home within a few years. Outgrowing your current home is one of the biggest reasons to sell it. As your family grows, you might need a house with more bedrooms or a larger living area. Some families move out of their starter home when their children begin schooling and find a new home in a school district.
When you can no longer see yourself and your family living comfortably in a particular space, it’s a good idea to move into a bigger house.
LIFESTYLE CHANGES
When you undergo drastic lifestyle changes, you may find that your current home no longer suits your needs. If you’re aging and find it hard to climb stairs, a single-storey apartment on the ground floor might be easier to live in than a multi-storey one that’s higher up.
Or, if you and your partner frequently work from home and require separate home offices, you may need to find a different living space that suits your needs. In such cases, selling your homes becomes a necessity as your new lifestyle demands it.
THE REAL ESTATE MARKET IS THRIVING
It is best to list your house when there is high demand for properties like yours in the area. Study your local market and ask a trusted real estate agent for their professional advice. Currently, several signs indicate that it’s a seller’s market.
If there are more for sale signs in your neighbourhood, or the price per square foot of real estate has increased, or if your neighbours just sold their property for significant profits within days of putting it on the market, that means there is great demand for properties in your area.
YOU’RE EMOTIONALLY PREPARED FOR THE SELLING PROCESS
Selling your home can be financially and emotionally burdensome on you and your family. We recommend that you only undertake this process when you’re ready for it.
You will have to repair and renovate your home to ensure that it’s in top-notch condition when you move out. You’ll also have to invest a considerable amount of time and energy into staging your home, hosting open houses, and skillfully negotiating offers from interested buyers.
Mentally prepare yourself to declutter and pack up your belongings from your home. You have to make peace with leaving behind all the memories you made in that space. Talk to your children about the move and help them navigate their emotions through the process.
If you’re still unsure about whether it is the right time to sell your home, talk to one of our agents at John Burdi – Real Estate Sales – RE/MAX WEST Realty Inc. We assist clients across Toronto, and the Greater Toronto Area find their dream home. You can view our current listings on our website. If you want to stay on top of current market trends, check out our periodic newsletter. Call us at (416) 918-1611 or contact us online with any questions you may have about the home selling process.
