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6 Surefire Signs It’s Time to Sell Your Home

May 16, 2016

6 Surefire Signs It’s Time to Sell Your Home



1. You’re feeling cramped, and you can’t add on



Your family might not be growing, but that doesn’t mean your lifestyle still fits in your current house. If you’ve started working from home, for example, or you’ve adopted an extended family of indoor cats—or maybe you’ve just never gotten over your dream of having a sewing room—your house might be too small. But before you jump to conclusions, see if paring down your possessions works to free up some space. Another option might be to finish an attic or basement, add another room, or even add a whole story to your home. But, of course, that won’t work for everyone. To decide which route to take, check your local building laws and get estimates from two or three contractors. It also wouldn’t hurt to check with your estate agent. Sometimes adding on won’t increase the value of a home, and you don’t want to make big-time improvements that will bring only a small-time return on your investment.



2. You have too much space



On the other hand, perhaps you’re feeling overwhelmed by vacant rooms and silence. (Hello, empty nesters!) In this case, it no longer makes sense to have, say, four bedrooms and a basement. Saying goodbye to a family home can be difficult, but you should consider how feasible it is to stay. If gardens and house upkeep are getting to be a little too much, or soaring utility bills are cramping your style, it might make more sense to move.



3. You’re over the neighbourhood



Maybe you can no longer deal with the traffic or perhaps your neighbours turned their house into a rental for students. Whatever the reason, neighbourhood dynamics can change dramatically over time. And sometimes, you can change. Maybe the 40-minute commute to work didn’t seem like such a big deal the first few years, but now you’re dreading it every day. Or your kids are getting older, which can be a big problem if you’re not in the right location.



4. Remodelling won’t offer a return on your investment



Giving your kitchen or bathroom a face-lift can make your house feel like new again, which might be all you need to decide you want to stay put for years. But that doesn’t mean it’s a financially sound decision. Before making significant improvements, you should really study the neighbourhood and know the highest price point of houses that sold in your area. If your home is already similar in style and condition of some of the priciest homes in the neighbourhood, remodelling might be a bad idea, and you should consider selling instead.



5. You can afford to sell



Sure, you’re going to make money when you actually sell your house, but as the adage goes, it takes money to make money. So seller beware: You probably won’t be sitting around and waiting for the Euros to roll in. Most sellers need to make some minor improvements such as painting, landscaping, or updating flooring to get a good price on their home. Those costs will come out of your pocket at first, so it’s a good idea to have a cushion before you start.



6. You’re ready to compete



If you’re living in a seller’s market, you might be enticed to offload your home before things cool off. But don’t forget—once you sell, you’ll probably be a buyer too. “If your market is strong, your home may sell quickly and for top dollar, but keep in mind the home you buy also will be more expensive.



Contact Michelle at 087 2500716 for any of your property queries - we are here to help.