6 Signs It's Time to Sell Your Home
My team and I have been selling homes in South King County and East Pierce County for over 20 years, and we have never seen the market quite like this.
So if you’ve been thinking or wondering, “Should I sell my house?”… maybe your answer’s in here.
1. You want to take advantage of the booming seller’s market. You’re hearing home prices are up 15% year over year, and you are thinking, “Wow, that could be a lot of money in my pocket.”
2. You just heard that your neighbor got how much for their house?! If you’re watching homes sell in your neighborhood within one or two days, you’re hearing they got multiple offers, they’re going for thousands of dollars over asking price, maybe it’s time to sell your house.
3. You want to reduce your monthly expenses, your mortgage payment with property taxes and insurance are just getting to be a little bit more than you want to handle. Maybe it’s time for you to sell down.
4. You’ve grown, but your home hasn’t. Your starter home was great for you when you first bought it, but since then, your family has grown, and maybe it’s time to move on up to a bigger space.
5. You’re just tired of those monthly expenses. According to bankrate.com, on average, a homeowner spends over $2,000 a year on just utilities and housekeeping alone. That doesn’t take into account any repairs. Maybe that’s a little bit more than you want to spend at this point, so maybe it’s time for you to sell down.
6. You’ve lived in your home for five years. According to National Association of Realtors, people in the Puget Sound area live in their homes for 10 years. The reason I say five years here is because, if you live in your house for any shorter than five years, historically, you might not have enough equity to sell. In fact, it might cost you more money to sell your home in too short of a time period. Maybe your house had been great for the last five years, and it’s just time.
…But beware of rash decisions, because even though it’s a seller’s market, it is still possible to make a rash decision that can cost you money in the long run.
Stay tuned for my video series this month where I talk more about these in detail.
I‘m Lynea Carver and I’m always here to help. Contact me with any questions.
And remember, whether you’re buying a home or selling a home, it all starts with a dream.