when to sell your house
Affordable Housing Building Residential

How do you know its time to sell your home? We have the answers

The decision on whether to sell your property or not can be quite a difficult one to make. There could be a myriad of reasons – may be the house is too small for the family, maybe the neighbours are not good, perhaps the property rates are high currently or you moved elsewhere for a permanent job. Whatever be the reasons, selling property can be intimidating. Here are some signs that you need to watch out for that show you are ready to sell your property.

Emotional acceptance

Selling your property can be emotionally taxing, especially if the households special memories for you. Maybe the birth of your first child, perhaps that particular chair was your first complex DIY project. So, if you are emotionally ready to throw away stuff that you have bought, or store them away, then it is time. You should be prepared to move on and not waver between selling and not selling.

Real estate market

An upcoming mall, school or a hospital, a metro station or a bus-stand, commercial constructions or even a resort in your neighbourhood can send the prices in the real estate soaring. When the real estate market is in a boom, you may wish to cash in on this opportunity to make a tidy profit on your house and save some extra college fund for the children. If you have a mortgage on your home, your selling price should cover the complete payment of existing mortgage and down-payment of your new mortgage. Anything over and above is a bonus.

Savings

Even selling a house requires some savings to be available beforehand. Right from repainting your house to maybe changing the décor a little bit to make your home seem more inviting, paying an advanced deposit to the real estate agent, agreement fees, taxes and registration fees as well as paying for storage for the unneeded furniture and a down-payment on your new home requires the ready and available cash.

Expanding family

Are your bedrooms insufficient? Are your children squeezing together in a single room? Are there a lot of stuff but just not enough space to fit everything in? These are signs that your house is no longer enough to fit your entire family. You will need to sell off your current home and buy a bigger one.

Credit score

Most folks have to mortgage their new property to buy it. This requires a healthy and robust credit score which can help you get not only the mortgage but also competitive interest rates. Get your credit reports and study them carefully. If there is a credit card bill which shows up as not having been paid on time, but you have paid, you need to fix that error. Once your credit score is all set, qualifying for a loan with lower rates may not be a problem at all.

Lifestyle changes

Maybe you are getting married, and you/ your partner are moving in together. Perhaps you have broken up with your partner and need to move on. Maybe you got a promotion in your workplace and can afford a better house in a better area. Changing lifestyles usually signal the need to sell your property.

Always hire an experienced real estate agent to help you the whole way. Not only can he help you with estimates, but he can also be useful for negotiations, arranging sightings and paperwork. Houses are often the most stable asset in our lives and selling it may seem quite frightening, but if you do it right, you will have a better one on the wings.

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