We sell houses for many reasons. Your family size might be getting bigger and you’d need a much bigger space. You might realize how big of a hassle commuting to and from work brings you, so you wanted to transfer to somewhere closer. You might have discovered that your place is situated in a flood-prone area. No one wants that. We all have our reasons and there’s nothing wrong with any of it. But one thing is the same among house sellers. We want to make the most out of our investment.
How would you know that, yes, it is now time to sell your house? If these reasons sound familiar to you then maybe you know the answer you are looking for.
Signs You Are Ready To Sell That House
Your home is ready
Make sure that your house is completely done with all the repairs it needed. Before listing your home for sale, make sure that tiny details like leaks, insect infestation, repainting, and more are addressed. Any defect may cause the house to not function as it was intended to and we don’t want to give that impression.
Make sure that when a potential buyer eyes your place, it is physically ready for turnover.
You have good market understanding
The housing market is unpredictable. Having at least the basic knowledge about this or knowing someone who can guide you would help in ensuring a quality business with potential clients. No one can deceive or overwhelm you.
You have an agent
If it is your first time to sell a property, seek help from the experts. Real estate agents have the data needed to confirm if your timing is the best for selling. Having a trusted agent would also be helpful in getting advice on negotiating offers. You’ll also have fresh new eyes for identifying repairs and assistance on how to deal with them. And primarily, your real estate agent would be a huge help when you market your house.
Real estate agents do the paper works and the house viewing which will save you a lot of time. And in case you have no idea, a real estate agent can guide you on how to price your property.
You’ve got good equity standing
Home equity is the financial value of your home when you put it on sale in the market. This is determined after deducting your outstanding loan balance from your home’s market value.
Having good equity standing means that your home is worth more than how much you borrowed from the loans. This is a good sign because it means your home value continues to increase, and you can sell it at a higher price in the market.
Homeowners who have negative equity end their properties in either bankruptcy or foreclosure. We don’t want this to happen.
You’re financially ready to buy a home again
Selling your current home won’t be processed in an instant, but one thing’s for sure — you’ll need a new home. If you have enough savings on your account to buy a new house or just enough to keep a roof on top of your head for at least three or six months, then it’s a good sign.
Being financially ready is also being financially free. This means you have to also make sure that all your debts are clear. This way, you can focus your money on finding a new home for yourself or your whole family.
You’re emotionally ready
Last but not least is a self-check. Are you ready to move out and let go of the house? Are you prepared to show it to several inquiries for weeks or maybe months? Are you ready to hear their feedback about the house you once loved — may it be a good or bad opinion? Are you prepared to negotiate with potential clients regarding the price? All these you have to think through and hopefully, have answers before deciding to sell your house.
You should learn how to accommodate potential buyers who would come check your house despite all the inconveniences. Always think of yourself as a businessman. Imagine you are no longer a homeowner. Remind yourself of the end goal — and that is to sell the house as soon as possible. You’d be surprised at how easier it will turn out.
Moving can be emotional sometimes. The only way to know you are ready is to make yourself ready.