Before you decide to list and sell your house, it is always a good idea to evaluate whether now is the right time to sell. There are factors involving your personal life and the real estate market that might be important to consider. Here are some of the top things to evaluate as you try to decide if now is a good time to sell.
1. Factors Related to Your Personal Life
Deciding to sell is a huge deal, so you should start by considering your situation. If you are living in a really small home and are now expecting another child, you might need to move to a home that offers more space. If you no longer have kids at home and live in a big house, you might be ready to downsize.
You should also think about your financial situation and your credit. Is your credit good at this time? If it is not, it will be hard to get a loan, so you might be better off just staying in the house you are in. If you took a better job a year ago, you might want to wait another year to have a two-year history with your job.
2. Factors Related to the Market
You should consider which type of real estate market you're about to enter, as the market tends to shift between a buyer's or seller's market. If it is currently a buyer's market, it would probably not be the best time to sell. Home prices generally fall during this type of market and homes do not sell quickly. If it is a seller's market, you might want to get your home listed right away to take advantage of the moment and get more money for your home.
You should also talk to your agent about the value of your home. An agent can give you a very good estimate of the price he or she thinks your house would sell for. You should think about this amount and determine if you would be happy selling for this amount. If not, you could wait a little while before selling.
If you need some help deciding whether you should sell now or wait to sell, you should talk to a real estate agent who lives in your area. A real estate agent can give you a lot of information that may help you make the right decision.