So, you feel like it’s time to move, but you keep asking yourself, is now the right time? After all, there’s so much history packed inside those four walls — not to mention all of your stuff. Here are a few reasons you may want to consider making a move this year...
- Your home no longer matches your lifestyle.
You’ve grown—but your home hasn’t. Outgrowing a home is a natural progression in life… are you expecting a child or even another relative? Do you feel cramped during the holidays, or wish you had space to entertain? Do you feel like you’re busting at the seams, or need more storage? Or, are you happy with your home, but wish it were in a different neighborhood or area closer to friends or family? Whatever your situation, if your home and/or neighborhood no longer fit your needs, the time is probably right to sell and find a new place that’s a better fit for your lifestyle.
- You have some equity in your home.
Having a strong understanding of your financial position will help you understand if it’s a good time for you to sell. As home values have risen over the past two years, most homeowners have built a lot of equity. If your home’s sale price would be enough to pay off your mortgage and related selling costs and give you enough money to afford a new place that would fit your needs, it could be a good time to put your home on the market.
- Your home’s upkeep is too much.
It may be time to consider downsizing if your to-do list seems too long, or you no longer use most of the rooms in your house. If you are looking for a more manageable home, or just want to have more freedom (and less house to maintain), you could benefit from selling and downsizing to a smaller place.
- A remodel or addition won’t raise the value of your home.
You’re considering a renovation or adding an addition, but will it increase your value, or price you out of your current neighborhood? It’s always a good idea to determine your future resale value, even if it's down the road.