Consumer Guide: Thinking of Selling? 7 Factors to Consider

1. Does the home still fit you and your family?

Life changes can change the way you think about your home. Adding household members, separating from a partner, watching adult children move away, and even new personal interests and needs can make a home suddenly feel too large or too small.

2. Have you made a career or lifestyle shift?

A new job further from home, a commute that was once tolerable but now feels like a drain, a desire to escape urban living or vice versa—all are legitimate reasons to consider a sale.

3. Have kids changed your priorities?

You may love your neighborhood but, due to changing circumstances, decide it’s not right for your children. Whether you’re seeking proximity to outdoor recreation, schools with a better student-teacher ratio, greater enrichment opportunities, or help with special needs, a move may be the answer.

4. Have you had a change in income?

A big promotion or inheritance might spark a desire to “move up” to a home that’s larger or has more amenities. On the flip side, maybe you’re going from two incomes to one and need to downsize to a more manageable home and mortgage.

5. Is the market ripe for a sale?

There’s no “right time to sell.” Every market, every house and every homeowner’s situation is different. But selling when market demand is high can be advantageous. A REALTOR®, a member of the National Association of REALTORS®, can talk with you about your market’s current dynamics and your home’s current market value

6. Have interest rates changed?

When rates fall, refinancing to lower your monthly payment might make sense. But a rate drop might also be an opportunity to trade up to that home you thought you couldn’t afford.

7. Are you ready for a turnkey home?

Maybe you’re finding your home too expensive or difficult to maintain—or you bought a fixer-upper only to learn that renovations aren’t your jam. In those situations, think about a move to a turnkey home. Sanity and family harmony beat living in limbo.

Now might not be a good time to sell if you don’t have adequate equity to realize a gain, you want to retain a low interest rate, or other personal factors outweigh the reasons to move. However, if you answered yes to one or more of these questions, consider talking with a real estate professional about options, timing and steps you’ll need to take to prepare for a sale.