Have you been considering selling your home, but you are not sure if this is the right time? If so, Garden City Realty has compiled a list of six tips that may indicate that it is time for you to sell that home.
YOU LIVE IN A SELLER’S MARKET
A seller’s market simply means that there are more buyers than sellers, which drives up the value of the homes in your area. Consider whether you live in a popular vacation destination or a densely populated city. If so, you probably live in a seller’s market. To be certain you may want to check out housing prices in your area. You can use websites like Redfin and Zillow to find out what other homes are selling for in your neighborhood. These websites can also show you how much value your home has gained since you purchased it, so you will get an idea of what you will make from the sale.
YOU HAVE GAINED EQUITY
More than likely you have lived in your home for at least five years or more, which means that you have been paying down your mortgage and gaining equity. The more you have paid down your mortgage, the more money you can make when you sell your home. If you have paid down a vast majority of your mortgage, it may be beneficial for you to consider selling.
YOU HAVE OUTGROWN YOUR HOME
If you are planning on starting a family or are growing your family, you may have outgrown your current home. You may be feeling cramped in your starter home with kids and fur babies. Or perhaps you have received an incredible opportunity and you need to relocate for a new job. You may even have received a promotion, and wish to move to a nicer home. If any of these are the case, now may just be the best time to sell.
YOU WANT TO DOWNSIZE
Is your home is more than you need in your current life stage, or are you unable to keep up with the maintenance? In that case, consider selling and moving to a smaller home or apartment. You may be going through major life changes such as divorce, or an empty nest. Either way, if you need to downsize, it is an excellent time to sell.
YOU ARE FEELING FINANCIALLY STRESSED
Your circumstances may have changed since you first bought your home. Perhaps you have fallen on hard times, are making less money than when you initially purchased your home, or perhaps there is simply too much maintenance needed on your home. Either way, if you have to stress over your finances to keep up with your mortgage, perhaps it is time to consider selling.
YOU HAVE A SECONDARY RESIDENCE YOU NO LONGER USE
Maybe you have a vacation home that you don’t use anymore, or maybe you moved into your vacation home permanently. Either way, if you have a home that is typically vacant you may want to consider getting it off of your hands by selling it. Plus, you will make some extra money to put towards something else.
If you decide it’s time to sell, contact one of Garden City Realty’s Real Estate Agents. Please feel free to reach out to one of our realtors with any questions, comments, or concerns. Our trained and certified agents specialize in the Grand Strand real estate market and are prepared to sell your home to the right buyer for the best price.
Not in the local area? As an affiliate of Leading Real Estate Companies of the World,® we have access to real estate professionals in 70 countries and across six continents. When buying or selling property outside of our local market, our world-class connections can help with real estate needs throughout our continent and to points around the globe.
Garden City Realty, Inc.
Location: 608 Atlantic Ave, Murrells Inlet, SC 29576
Hours: Open Monday through Saturday from 8:30 a.m. – 5:00 p.m.
Phone: (843) 651-0900
By Katie Robison, blog contributor for Garden City Realty