Some of the questions you need to start asking yourself when you’re thinking about selling your home is:
- How much equity is in my home? According to essortment.com, “if you’ve made a sizeable down payment, have lived there several years, or neighborhood property values have skyrocketed, you may be able to get a comfortable profit from the sale of your home (2009).”
- Is your home in saleable condition? Will you have to market it as a fixer upper or “as-is?”
- Where will you move to? “If you plan to downsize or move into an apartment, chances are you need not worry about making a huge profit. But if you would like to buy another home, do you have enough money for the required down payment (essortment, 2009).”
- Is the selling market stable or strong? Pay attention to the economy and the news to see if right now is the best time to sell or if you should wait a few months.
- Are your circumstances stable? “If a family member is in precarious health, it may be wise to wait until the crisis passes before attempting to sell your home. Stress tests report that selling or buying a home can wreak havoc in a placid lifestyle (essortment, 2009).”
Traditionally spring is the best time to sell your house. Sales peak in April and May and continue to stay relatively strong in June and July. It’s a good time to move because the weather is nice and it’s during summer recess from school.