5 Signs it’s Time to Say Goodbye to Your Home (and Hello to a New One) in Ellicott City
Check out these five signs that it may be time to sell your home:
- The market is hot
- You’re drowning in payments
- You’ve outgrown the home (or vice-versa)
- You don’t want to maintain your home any longer
- Nearby homes are selling at high prices
Here’s a closer look at each.
Sign #1 it’s Time to Sell Your Home: The Market is Hot
Sometimes real estate markets are hot, which means homes sell quickly. If there are more buyers on the market than there are homes for sale, it’s considered a seller’s market – and in that case, sellers typically have a slight advantage. That’s because buyers are competing for the homes that are available, and in many cases, they’re willing to make higher offers or other concessions that work out in the seller’s favor.
Related: How to price your home to sell
Sign #2 it’s Time to Sell Your Home: You’re Drowning in Payments
If your mortgage payment is higher than you’re comfortable with, it may be time to sell and look for something more affordable. Even if you’re not in any danger of defaulting, you may be able to live more comfortably if you have a lower mortgage payment. That alone may make it worthwhile to consider selling your home – particularly if you could make a tidy profit.
Sign #3 it’s Time to Sell Your Home: You’ve Outgrown the Home (or Vice-Versa)
If you’ve outgrown your home, or if it’s too big for you – or even if it simply no longer fits your lifestyle – it may be time to sell and look for something different. It’s not uncommon for today’s homeowners to live in a space for as few as five years, so if that sounds like you, you’re not alone.
Related: 5 mistakes most first-time sellers make
Sign #4 it’s Time to Sell Your Home: You Don’t Want to Maintain Your Home Any Longer
If you’ve had it with home maintenance (particularly if your home has needed more and more during the time you’ve lived there), maybe it’s a good idea to find something new. Newer homes tend to have fewer issues and require less routine maintenance than older homes do (though any homeowner can tell you that’s not always the case).
Sign #5 it’s Time to Sell Your Home: Nearby Homes Are Selling at High Prices
If your neighbors are selling their homes quickly and at high prices, or if you know that you’d make a significant profit by selling your home, it may be time to cash in. Recently, home prices have skyrocketed to levels unlike anything in recent memory. There’s nothing wrong with selling your home to make a profit and renting for a while, or with finding a more affordable home and using your profits as a down payment.
Related: 5 great adventures to take next weekend in Baltimore
Are You Buying or Selling a Home in Baltimore County or Howard County?
If you’re ready to buy or sell a home in Baltimore County or Howard County, we can help. Check out these listings:
If you’re thinking about selling your home, we can help you sell it quickly – and at the best possible price. You can:
If you have specific questions, fill out the form below or call us at 443-955-1227 – we’re here to help you with any aspect of your real estate transaction.[wpforms id=”220617″]