Should You Break Up with Your House?
Breakups can be tough — especially with your home. Similar to breaking up in a romantic relationship, emotions can cloud sound judgment. However, just like in human relationships, there can be some clear signs that it’s time to part with your home and seek a better housing solution. Choosing when is often a huge decision. What is the best time to sell my home? What are the factors that indicate it’s time to sell? Where can I find some selling tips to provide guidance?
Jeff Cook Real Estate is your seasoned real estate firm that helps clients throughout the Carolinas buy and sell homes. When it’s time for the dreaded breakup, we can make the process as painless as possible. In fact, searching for a new home with Jeff Cook can be absolutely exciting!
What is the Best Time to Sell My Home?
Only you can decide when it’s time to sell your home. Various factors can come into play as you consider this decision, including family changes, health changes, career changes, retirement, and more. At Jeff Cook Real Estate, we are often asked, “What is the best time to sell my home?” Here are the most common factors that move individuals and families to sell their home and purchase another one.
When You Need More Space
Families can grow and their needs can grow, too. Even a standard family of four with two parents and two children can find a home growing small as the members grow in size and develop new habits. That toddler that stayed close to mom’s feet can become an energetic teenage boy with a huge gaming setup. The small girl that sat for hours playing with dolls on her bed now needs a virtual studio for her musical talents.
Adding to the family or growing needs are not the only reasons to need more space. Sometimes health needs dictate a need for more space, or a need for special spaces. A loved one can become disabled and need room for wheelchair access or more room for a specific type of bed. “What is the best time to sell my home?” When you need more space.
When You Need Less Space
Of course, just the opposite can be true. As your family grows and most or all the chicks fly the coop to build their own nests, you can find yourself with too much space. Growing older can make it more difficult to care for all that extra room. The passing of a spouse can make it even more difficult to fill a space that once cared for a busy family.
Retirement can bring about a change in your focus or lifestyle. You and your spouse may wish to travel and not spend as much time at home. A smaller house just makes better sense, with less to care for and worry about. Plus, the equity you’ve built up in your existing home could possibly cover the cost of a smaller space while partly funding your retirement ambitions.
When You Need a Change
Sometimes looking at those same walls for decades can just become too much to bear. You need a change. Perhaps a more modern, open layout would suit your new tastes better. Maybe growing older means you need to be closer to medical facilities, workout facilities, or relatives. Or maybe you want to be able to walk downtown and catch the different food trucks that set up shop daily!
“What is the best time to sell my home?” When the itch or drive compels you to move and start afresh and you need a change.
When Interest Rates are Favorable
Low interest rates can greatly influence your decision of what is the best time to sell your home. In fact, many realtors include selling when rates are low in their top selling tips. While rates always fluctuate to some degree, the past few years have seen a pattern of low interest rates that favor both selling and buying.
Reliable real estate predictions indicate that 2022 will see a slight rise in interest rates, but they will still remain fairly low. High demand and high home prices are also predicted to remain. In this type of market, here are some evergreen selling tips to remember:
Low interest rates drive up buyer demand. This means you can expect to sell your home much faster.
Low interest rates help keep home prices high, and this benefits sellers. You can expect to receive more for your home, as borrowers will spend more for the home they desire, taking advantage of lower interest rates.
Lower interest rates give you, the seller, more negotiating power. More demand means you can ask a favorable price and even receive more, if potential buyers fight over your home.
If you are considering selling your home in North Carolina or South Carolina, contact us for more selling tips and advice at Jeff Cook Real Estate.