For most families, a home is their most significant asset, financial tool, and form of stability. So, no surprise, many folks tend to be reticent to move to another house after a few years. However, it’s in understanding timing and when to take advantage of the market that those who are successful and produce sizable gains for their retirement make the most of their situation. A home is just as valuable for moving ahead financially as is a promotion at work. If folks are paying attention, these six signs will tell you it’s time to sell a home.
The Home is Too Small
Most homeowners get into a home when it has more than enough space and room for their current life and immediate expectations of family growth. However, humans, by their nature, tend to be packrats. Over time, what used to be a huge home can seem very cramped. Things get crowded quickly with a big family and lots of belongings in the same property. When it’s time for a family to think bigger, it’s also time for the old home to be put on the market and traded out for a more comfortable location.
Family growth can happen for several reasons, with children being the most frequent. However, for older homeowners, having teens and senior parents to take care of can make a home pretty crowded. Most homes are designed for 3 to 4 people, not 6 or 8.
Lifestyle Changes are in Order
On the other end of the spectrum, a home capable of handling a big family can seem as empty as a church in midweek. Common reasons can be that the kids have grown and moved out. Additionally, lifestyle changes cause more time away (work, commitments, travel, etc.). All those rooms and closets can seem excessive when your actual physical-use footprint has shrunk. This is also an excellent time to let go of a big home and find a cozier place in a location you would prefer to live and retire. Other changes may be forced. Trying to hold onto a home when being required to work or move elsewhere can be challenging. It may be easier and less stressful to sell a home and commit fully to the move if it’s long-term.
Emotionally You’re There
Homes hold many memories, but different circumstances can also make them uncomfortable to be in any longer. Each room can become a painful reminder of loss in some capacity. This can happen with divorce, separation, a death in the family, and similar events. Emotionally, it’s time to leave and move on to something new. Life is limited, and your time is the most valuable asset you have. A change in environment can be a great reason to sell a home as well. It can be just what’s needed to close one period and start another with a new opportunity.
The Market Timing is Right
When there is a massive demand for homes, that’s the best time to sell a home. News reports often signal this. A lack of homes being available for sale drives up demand. Everyone involved starts looking for potential properties that could sell. That, in turn, makes home values rise rapidly. This kind of situation comes up every few years in cycles.
Additionally, more seniors want to stay in their homes. In contrast, a large, new generation of young people want to buy. The combination makes for a perfect storm. It’s also ideal for selling a house at the top of the market.
The Bottom Line
The signs that you should sell your home soon tend to be pretty obvious. However, the biggest challenge many have involves taking the big leap. Real estate agents can help potential sellers see the full gamut of what will likely happen in the current market by providing an objective evaluation. This data will give you valuable, reliable information to work with and make a decision on. More importantly, you’ll be able to see real sales happening around your home in your neighborhood and what they are selling for. That gives you tangible results that can be applied to your property.
A Real Estate Expert on Your Side
Bello Real Estate serves all home sellers and buyers for properties in South Florida. Our agents cover all types of residential properties, and you can reach us by email, text, Facebook, or Instagram. If you have a home ready to sell, get connected with us to find out more. You’ll likely be surprised what’s possible and how fast we can sell it as well.