If you’re thinking of selling your home this year, you might be asking yourself, “Now or later?” Here are three factors to consider that can make your choice easier:
1. Market conditions
If the market is such that it benefits you to sell now, that’s a factor that is tough to ignore.
For example, if it’s currently a seller’s market, you can expect to sell for a good price. Keep in mind that you may also need to pay top dollar to get into your next home if your new neighborhood is also experiencing a seller’s market. So, the advantage from the selling price and disadvantage from the purchase price may cancel each other out.
If you need to sell, and it’s just a matter of when, selling now has a big advantage: certainty. You know what the market is doing; you know what your current situation is; and, you know what you can afford.
The longer you wait, the more uncertain things become. That doesn’t mean you shouldn’t wait. There may be other reasons for delaying your listing, such as school schedules, employment changes, etc.
A home is more than a financial investment. It’s at the core of your lifestyle.
You may be in a situation where you’re tired of where you live and want to move. Or, you may be eyeing a neighborhood you’d love to get into, and don’t want to wait any longer to go for it. There could be other lifestyle factors as well.
Ultimately, if you feel “ready” to move, even if you’re also feeling some trepidation (which is normal), it might make sense to list now.