Cervone, Deegan knows that we all experience a time when you begin to think – am I ready to move? Perhaps you have been contemplating a different location, a bigger house or something else that elicits these thoughts. You may wonder if you are in a good position to make a move or if it is an ideal time to do it. Here are 7 indicators that you are ready to sell your home.

 

 

For a lot of folks this can be the biggest factor – having enough equity in their current home to comfortably sell. For several years now home prices have been rising and with demand being as strong, there is a good chance that you would have equity to be able to sell with possibly some money left over to put towards your next home.

 

 

Assess your current financial situation. If you have paid off all of your debt (aside from your current mortgage) and have enough money leftover for a few month’s worth of living expenses then you are probably ready. It’s worth noting that if you have enough equity then you may even be able to pay off some debt with that during the process.

 

 

For most, selling a home can be an emotional process. It is usually your most valuable possession, a place where many memories have been created and at the end of the day – it is your home. Ask yourself if you are prepared to say goodbye and move on to another house to make into your home.

 

 

Your move may be triggered by a growing family or maybe even a new job located somewhere that you want to live closer to. Whatever the reason, do some math to see that you can comfortably afford it. It is often recommended that you keep your monthly payment to 25% or less of your take home pay.

 

 

Even if you have a lot of equity in your current home, you will still need cash on hand for closing costs on your new home along with incidental expenses such as movers. Your mortgage agent should be able to provide you with some rough numbers on what to plan for in the way of closing costs.

 

 

While nobody has foresight into the future to know the market’s true path, we do still have data to inform us of trends. In case you haven’t had your finger on the pulse of what is going on around you in your particular market, a great source for this data is your real estate agent.

 

 

Finally, having an experienced real estate agent like our team is an excellent resource for you to review your thoughts on selling and moving. Share your living situation details, financial footing and your goals to get some good honest advice on what would be best as you begin to plan.