Making the decision to sell one’s home isn’t always easy. Normally, there are several financial and emotional strings tethered to the home itself.
And sometimes, these financial and/or emotional attachments can create tension, thus stagnating the home selling process.
As a result, homeowners run the risk of missing out on a major deal and the chance to grow equity.
Nevertheless, before you even grapple with the reality of selling your home, you must first prepare.
Fortunately, today’s post will briefly discuss 5 sure-fire signs that prove you’re fully ready to sell your home.
So, without further ado, it’s time for some Real Talk!
#1. You’re Financially Fit
How can we put this delicately? Selling your home while you’re still in debt and have little to no savings in the bank is financial suicide.
In other words, don’t sell until your money is right!
Otherwise, you’ll most likely end up paddling your way through a sea of new expenses. And it could take years to get you and your family back to dry land, financially speaking.
So, before you even consider selling your home, take a serious look at your finances. If you’ve already cleared all your nonmortgage debt and have at least six months worth of expenses in your emergency fund, you’re financially on the right track to sell and purchase a new home.
Until then, you’re strongly advised to hold off until all your financial ducks are all in a row.
#2. Your Lifestyle Needs Have Outgrown Your Home
Life happens. Families expand. The kids have all moved out. A once in a lifetime job opportunity comes your way. You and your partner decide to start a business from home.
Whichever the case may be, before you know it, you’re looking for a new place that fits the new stage of your life.
A great way to gauge your need to move is to consider space. If you’re running out of space for storing items and your home is beginning to feel more like an episode of Hoarders, it may be time to move.
Likewise, if you now live alone or just with your partner, you may find that the 3-empty-bedrooms are too much to clean regularly. Unless you plan on housing spiders.
#3. You’re Emotionally Ready To Sell
Now this is a big one, especially if the home you’re considering to sell was your very first one.
Honestly, in order to be emotionally ready, you’ve got brace for the worst.
If your kids grew up in your current house, you may have to get through arguments with them about selling it. Additionally, you’ll have to burrow your way through boxes of precious mementos and old pictures.
On top of that, you’ll have be thick-skinned in the presence of potential buyers who may criticize the ins-and-outs of your home.
Albeit painful, it’s all part of the selling process. Nonetheless, only you know when you’re emotionally there.
In the meantime, detach bit-by-bit and consider the new memories just waiting to be formed in your new home.
#4. You Have an Official Plan for Life After the Sell
Chances are, if you plan to sell, you also plan to buy as well. With this in mind, it becomes imperative that you’re satisfied with your next purchase.
To reach this goal, you’ll have to consider moving costs, the broker’s fee, and a 10-20% down-payment on the new place.
And if you’re looking to buy new furniture or remodel the kitchen or bathroom, these are costs that should also be considered.
In all things, it’s always best to stay a couple steps ahead, especially with expenses.
#5. You’ve Contacted an Expert Real Estate Agent to Help You Sell
Selling your home can be very time-consuming, especially if you’re already working hard to keep the bills paid. So why not hire expert help?
Experienced real estate agents, like the ones from us at The Ryan Knowles Team, help make your home selling process headache-free.
Any of our veteran agents will be able to:
- Tell you when’s the best time to sell your home based on local market trends
- Market your home to reach a wider audience of potential buyers
- Help you set the right price for your home
- Handle all the required paperwork
- Give you advice on repairs that’ll make your home more attractive
- Advise you as you negotiate offers
And so much more!
The Final Say
Sometimes, life requires us to move on before we think we’re ready to take the next step. However, this simply doesn’t apply when it comes to selling your home.
Always remember that preparation is key. So take special note of the signs mentioned and prepare yourself for that next phase in your life.
This concludes today’s Real Talk session. If you enjoyed it, feel free to share and connect with us on social media using the links down below.
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Thank you all for reading and we’ll see you soon for more Real Talk!