For those who are on the fence about whether this summer is the right time to sell your home, Realtor.com website provided some video guidance. Their video brief noted five signs that it might be time to start looking for your next home:
- If the price per square foot for comparable homes is on the increase, it means “the market is hot”—hospitable to sellers and a good time to sell.
- You have tired of barely being able to make ends meet—so cashing out now to facilitate a move to less stress-inducing quarters would make good sense.
- Your family has grown, but your house hasn’t (as when a starter home is no longer adequate).
- Maintenance costs are more than you bargained for (in both cash and time required), so a move to a condo “or a new build” will make a better fit.
- You have lived in your house for at least five years—so the equity you’ve built up will justify the expense of the sale, new purchase, and move.
Given the sweeping pandemic-triggered shifts that have caused many to reappraise formerly unchallenged career and personal living preferences, a sixth reason for moving could now be added to the list: lifestyle changes. Realistically, since any one of these signs alone would probably not be sufficient to justify a move, it’s good that the realtor.com staff qualified their list with “might” (as in, “might be time to sell your home and move on”) They could well have appended a Doubling Rule: if two or more of the signs resonate, that could justify a preliminary look at what’s happening in today’s market.