Are you living in your forever home, or your “right now” home? How do you know when it’s time to start looking again? Read on for some of the telltale signs that it’s time to list your home for sale and make a move.
1. You’ve outgrown the space (or you have too much of it)
Tripping over kids, pets or belongings as you walk from room to room? While a bit of tidying-up never hurts (we see you, Marie Kondo!), it might be a sign you need more square footage for your growing family or hobbies. When looking for a new home that will help you spread out, consider factors like number of rooms, layout, and square footage to ensure your new space will fit your family and/or lifestyle.
On the flip side, if you no longer have kids in the house or get lost when navigating between rooms, it might be time to downsize. Depending on your area, smaller spaces can be easier to find. You might even consider other types of residences besides single-family homes, like a condo.
2. You’re thinking about the money
If you purchased a property outside your budget limit or you’ve recently had a decrease in your income, you might want to consider putting your house on the market. There’s no sense in staying in a home you can’t afford!
On the flip side, maybe you have equity in your home and want to cash in on it. For the last several years, home values have been on the rise. That means many homeowners are building equity – which means your home is worth more than you owe on it. If you have enough equity, you can use it to your financial advantage by paying off your current mortgage – then covering a down payment, closing costs and moving expenses on a new place, which could save you big in new payments.
3. You can’t stand your commute or need to relocate
We know most of us are working from home right now, but our return to the office is just a matter of time. Are you dreading that first day back because of the long commute? Hate the cost of travel – and the time you’re spending away from your family? It might be time to consider relocating to an area closer to your place of employment to give you more time at home (and less road rage!).
Or maybe you’ve been suddenly promoted! If relocation is on the table, it’s time to look at putting your current home on the market. Start weighing the pros and cons – and considering factors in the new location like neighborhoods, school districts, walkability and other factors that might be important to your family.
4. You’re Ready For An Upgrade
The last couple of weeks have been a great chance for many of us to think about the features and finishes of our homes; both what we have and what we want. If you don’t possess the skills necessary to do a big home improvement project yourself, you can either hire someone to do it for you or consider moving up to a home that has the features and finishes you want.
Granite countertops, next-level landscaping, on-suite master bathrooms, and finished basements top the list of some of the most desirable upgraded finishes in our area. If your home doesn’t have the features you want, maybe it’s time to move up to one that does!
5. Your Lifestyle is Changing
If you’re having trouble keeping up with the required maintenance and day-to-day tasks necessary to keep your home ship-shape, it might be time to think about a move. Single-family homeownership is a lot of work; older property owners who may be slowing down or losing interest in that work can get more out of life with a home that better suits their lifestyle.
And, you don’t have to be retired to meet these criteria. Many busy professionals or frequent travelers find that while the romance of owning a standalone property is appealing, the work necessary to have something nice to come home to is more than they have time for.
Multi-family condo developments or even site condos offer the financial benefits of homeownership without all the maintenance and work and can be great options for those who need a break from the ever-growing to-do lists.
Whatever your reason for selling, we’re happy to talk through your options, as well as help you find the next home that will perfectly suit your needs. Our team has over 30 years of collective experience buying and selling homes, and we can help you too!!
How can Brick & Corbett help you?