Choosing to sell your home can be a big decision, so it is important to know that you are ready to move on, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa. He notes that in today’s competitive real estate market, listing a property can be a daunting task as there are so many things to consider, such as the challenging economic conditions surrounding the market, price and what real estate agent to use. However, selling a home can also be an opportunity to improve your lifestyle and start fresh.
Goslett provides homeowners with five signs that they might be ready to place their home on the market:
Your family has outgrown the space
If the home no longer meets the family’s needs due changing circumstances such as another baby on the way or perhaps an ageing parent moving in, then maybe it's time to find a bigger home.
Your neighbourhood is booming
Within the larger macro property market are smaller micro-markets that occasionally buck trends. Certain areas might be experiencing a boom in the market due to external factors such as an upgrade in infrastructure or the building of a new amenity. If homes in your area are selling above their listing price, then it might be an excellent time to take advantage of the situation and sell your home.
The home is too much maintenance
If a busy schedule keeps you from regularly maintaining the property, it might be better to sell it and purchase a lock-up-and-go unit that requires little to no maintenance. Not everyone’s lifestyle is conducive to owning a home that requires regular upkeep. If the grass is knee-high and the swimming matches the colour of the lawn, perhaps it’s time for a change.
There is home equity
Homeowners who purchased their properties before the housing crisis may have had to hold onto their homes until they could build up equity again. Those who purchased their homes in 2008 would have sold at a loss if they had listed their home in the few years that followed, however, the housing market has recovered and in most areas homeowners will now have built up equity making selling an option.
Your criteria have changed
Whether it is the family growing or shrinking, a new job with a long commute, retirement, divorce or any other life altering change could be cause to seriously consider moving on. While the home may have been perfect when you bought it, things change and your needs develop. If the home no longer meets your current criteria, it is probably time to find another one that makes more sense to your life as you now know it.
“Although making the decision to sell a property can be stressful, it can also provide you with the opportunity to find another home that is more suited to your current needs and life stage.
Using an experienced real estate professional from a reputable brand will also expedite the process and ensure a quick and seamless sale,” Goslett concludes.