When Should I Sell My Home?

Selling a home can be an arduous experience.  I remember selling my own home.  Getting up every day to make sure that the house was in pristine condition for buyers can get old, very fast.  And then of course there are those special occasions on the weekend when you are lounging on your couch in your underwear and a realtor calls and wants to show your home in about 10 minutes.  This can get nerve racking if you aren’t getting any offers and your home stays on the market for any length of time.

So when deciding whether or not to sell your home several things to consider are:

How soon are you interested in moving?

What is the state of the market?

Who will keep the house up and on what schedule?

The time frame that you are moving in makes all the difference in the world.  In today’s market if you want to move fast you have to price your home to look like the deal of the century.  If you can afford to wait, it is still necessary to give your home an aggressive price.  Having your home on the market too long can decrease its’ value.  The best advice in this matter is to wait until 90 days before you intend on moving to list your home.  A home properly priced still sells quickly in the current market and can even garner multiple offers.

The state of the market can affect not only the price you get on your home, but also the price you get on the home you are moving to.  If you want to move in to a bigger home or a traditionally more expensive home you still benefit to sale in the down market because you make up any losses in value that you may have when you purchase your next home at a discounted price.  For example if the value of your home has decline 10% and it was worth $200,000 it is now worth $180,000 but at the same time if you were moving into a previously valued $400,000 home it is now worth $360,000.  That is a $20,000 dollar benefit to you.

Keeping the home up when it is on the market is tedious and can really determine a buyer’s impression of the home as they walk through it.  It is important to work out a schedule with a spouse; roommate or housekeeper to make sure the home is always in its best showing condition.  A messy home can actually cost you thousands of dollars.  As a buyer is walking through your home they are assigning it a value as it compares to other homes on the market.  Don’t forget this is a competition.

To find out what your home’s approximate value is today’s market contact a real estate agent or appraiser who is up to date on current market values.

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