You’re attached to your house. But is it time to let go and find a new home base?
Many times, for diverse reasons, one may be required to sell their home and move someplace else. Of course, the decision itself is not easy to make, which is a part of the reason why many people struggle throughout this process, split between whether to *really* sell or not. After all, there are so many memories in this space; it could be quite emotional.
Are you in the same place?
Have you too been thinking about selling your house and moving to a new place?
Aside from the obvious reasons (like you have found a new job in a different city which requires you to move or you don’t feel safe in your neighborhood and want to move)…
…here are 3 compelling signs that it is time for you to sell your house:
1. The real estate market is thriving for the sellers
If you’re a serious investor who is focused on maximizing capital and optimizing your portfolio, this could very well be the most important reason why you may want to sell your house.
If the real estate market in your city is thriving and sellers are getting very good prices for their residential property, you should seriously think about selling your property. Exit the market with high profit. Thereafter, when the real estate market corrects or crashes, you can re-enter the market.
2. The current space doesn’t map to your needs anymore
If you’ve had children or your lifestyle has changed a lot since you bought the house, you have outgrown your house.
A larger family might need more bedrooms, or maybe you need to set aside office space for your budding business venture. Your family’s hobbies and interests may also have changed since you first moved in, requiring a dedicated room or area for them all. If your kids are getting older, they may want their own room and privacy rather than sharing with siblings.
3. You have built a positive equity
The difference between what your home is worth and how much you owe on your mortgage is referred to as equity in the present context. If you sell your home too early, you might not earn back everything you put into it over those first few years (closing costs, agent commissions, mortgage payments, and more). But if you wait, you can pay off some of your mortgage and build even more equity.
Once your home has increased in value enough to cover all of those initial costs, plus the closing costs and commission, that’s a sign that it’s a good time to sell. That way, you can make a profit from the sale of your home without having to hold onto it for another few years.
Final words
These are three clear signs that it’s time to sell your house.
Of course, there could be plenty more reasons as well.
In any case, when you’re selling your house, make sure you have the best real estate agency by your side. The top real estate agents in Canada can value your property properly and assist you to find the right buyer.
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