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Is It Time to Sell Your Home? Here Are The Signs It Might Be

Chris Wojciechowski

Personally, Chris loves to laugh, spend time with his friends & family on the patio, and exercise daily...

Personally, Chris loves to laugh, spend time with his friends & family on the patio, and exercise daily...

Feb 28 5 minutes read

Unless you’ve been living under a rock, you’ve probably heard about the seller’s market currently taking place around Colorado Springs, CO. Seeing what homes are selling for in your neighborhood may have you wondering, “should I sell my home, too?” In this post, we’ll go over the top signs that it may be time for you to get your very own “For Sale” sign.

#1. Were you planning to sell in the next 3-5 years?

While this might sound a bit strange. It's the question you should be asking yourself. A few things are in play that will affect that sale in 3-5 years.

  • First is the economy. Do you think it's going to be better or worse in 3-5 years? 
  • Second, home prices are going up very, very quickly; great for selling and bad for buying. 
  • Third, interest rates are still crazy low and that's great for buying but that won't always be the case. Every 1% the rates go up, you lose about $20,000 in buying power! Meaning that to have the same monthly payment, you now need to find a house that is $20,000 cheaper. Oh, and if you are thinking, I will wait for rates to go up, then prices to come down... there is no relationship between these two things ever in history!

When these all occur you may not be able to buy what you want to, which means you are not moving.

#2. Your Home Is No Longer Meeting Your Needs

Outgrowing your home is very common — especially for first-time buyers who outgrow their “starter homes.” As your family grows, it makes sense that a house you bought just for your partner and you starts to feel a little too snug for comfort. Once your family starts growing, or your needs change, there’s a good chance you’ll want to sell and find a new home. Of course, you should have a plan in place before listing your home as far as when the right time to list is (don’t forget to take school, work, and extracurricular schedules into account). Here are some other things to think about:

  • How much other houses in your area are going for.
  • If the neighborhood you’re thinking of moving to is a good fit for your family and needs.
  • If the size of your new house will be able to fit the whole family and even grow with you.

On the other end of the spectrum, as people age and their kids fly the nest, they often choose to downsize to something easier to maintain. No matter your situation, if your home is no longer meeting your needs, it’s probably a good idea to sell it.

#3. Your Home’s Upkeep Is Taking a Toll

If your to-do list is never-ending and unexpected repairs pop up by the day, sell it today!

There has never been a better time to sell a house that needs work! I am an investor and a realtor. I run several meetings in Colorado Springs and we talk about it weekly. I didn't have to fix anything! The volume of homes available for sale has never been lower. So buyers are not buying what they want. They are buying what they can get. In many cases, they a waving all sorts of things because they just need a house!

#4. It Makes Financial Sense To Sell

A house is the most significant investment we make, and homes can accrue a lot of value as the years pass by. If you’ve owned your house for a long time and your mortgage is paid or almost paid off, you have excellent built-in equity, and given today’s market, this may be the perfect time for you to recoup a large portion of your nest egg. The housing market is expected to stay red hot in 2022 as Zillow predicts home values will increase by an additional 11% in 2022 after increasing by a record 13% in 2021. So, if you're wondering when a good time to sell is, now is your answer!

#5. You’ve Done Your Research

The best seller is a well-informed seller. We love to say, we educate, you make the decisions. We have access to data from nearly every zip code. If you want to know what the market looks like in a few locations, let's talk about it. We can jump on a Zoom call and walk you through what we are seeing where you want to go. 

#6. You Know What’s Next

The thing about selling your home is, you’ll no longer have a home. You certainly don’t want to put yourself and your family out on the street! So, before you decide to list your home, you need to have a pretty good idea of what the next steps are for your living situation. These market conditions have significantly changed what we recommend for sellers to do. You don't want to be homeless. Let's discuss your goals to outline a plan forward for you to consider. 

Is it your time?

While we outlined a few examples here, we do not have all your information to fully advise you.

Let's Talk
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