Every house has a specific purpose in our lives. While some homes are meant for us to live in for many years, others are just meant to serve as a cozy home for a couple of years, and that’s okay too. A change in life plans, a new career opportunity, or a desire to move to a new city may result in us outgrowing our space.
No matter what the reason, if you’re wondering, “Is it time to sell my property in Parker?” here are six signs you may need to pack your bags.
When you’re in the thick of a seller’s market, and you want to make a profit on your house sale, it’s definitely time to put your house on the market. But how can you tell if a seller’s market is booming? Make sure to do some research or speak with a trusted real estate agent in your area.
Your local price per square foot can determine a seller’s market, the amount of housing that has been sold in your neighborhood quickly, or if your neighbors selling similar homes to yours have recently sold at a great price.
If your family is growing, you’ll definitely need a bigger home. Now that you live alone, you may feel your house is too big to handle. You may prefer a smaller, cheaper, and easier-to-manage home.
Downsizing could cut your mortgage payments and homeowner expenses in general, which would leave you with less financial pressure and more money to save or invest.
Do you find that you spend more and more time commuting? Maybe you should consider moving closer to your workplace. The need to relocate to be closer to your work or send your kids to a new high school can be a compelling reason to sell your home and move.
Be sure you have your finances in order before selling your current home and buying a new one. This is especially important if you plan to upgrade to a large and expensive property. Simply outgrowing a space is not a good enough reason to move. You must also be able to afford the upgraded home.
Consider paying off your debts or adding money to your emergency fund before selling your house so you will feel financially secure.
Homeownership isn’t easy. This leads to some people selling their houses and just going back to renting. The maintenance of the home may be too much effort, time, and money for you and your family. However, selling your current home and buying a home that requires less maintenance may be an option.
Selling a house involves taking equity into account. Ideally, you should live in your home for at least five years before selling it so that you can establish enough equity. Selling too soon may result in you losing money due to the selling costs.
Potential buyers may also assume the home isn’t in perfect condition if the seller sells too soon. When you reach that five-year mark, that’s another indication that it’s time to sell.
Selling your Parker property may be a stressful experience, especially if it’s your first time. You can quickly sell your home by conducting an in-depth study, taking appropriate measures, and looking for these signs.
If you need help, it’s always a good idea to reach out to a local and trusted REALTOR® in Parker, CO.