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December 8, 2015 • Home Selling Tips, Real Estate

When is the Right Time to Sell?

Major life changes can have a strong influencing factor in the decision to move. Living needs can drastically change as we move through life’s stages. Consider the following family, career, and financial events in your decision to move.

New Additions to the Family
The small city studio that you loved when you were the sole inhabitant might not be your ideal living situation for raising a family. When starting a family, evaluate whether your home, as well as the neighborhood and school system, is the best fit for your family. It may be time to upgrade to a larger space. Similarly, consider whether your parents may one day soon be living back at home with you post-retirement.

Empty Nesters
Choosing to sell once the kids have moved out can be a tough decision for many, as the big house holds many cherished family memories, and symbolizes comfort for their kids. The pros to selling, however, can include a reduced mortgage payment on a smaller house, and a chance to start fresh and explore different hobbies in your newest life stage.

If a disability has left you unable to navigate easily around your house, or to walk upstairs, it may be time to consider a move to a house with your comfort and accessibility needs met.

A New Career
New careers can oftentimes lead to the decision to move. Consider your travel time to your job location, and if a move might lead to a shorter commute and less daily stress.

When You are Financially Secure
Make sure that you are financially secure before deciding to move. Moving can entail numerous unforeseen costs. The cost of movers alone can be a big expense, depending on the amount moved and distance. Additionally, depending on your reasons for the move and location, you may need to search for a new job. It is recommended to have a three to six month emergency fund set up in the event of unforeseen house damages or legal setbacks in the moving process. Unforeseen damages could be as minimal as needing new paint and caulk, or could be as severe as new windows, roof, flooring, and foundation work. Hire a certified real estate inspector to view your prospective home, as they may be able to shed light on a number of potential hidden repairs.

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