So, you’re considering selling your house and moving on. You’re wondering if you should and if now is a good time. I have a 3 part answer for this type of question for you to check out. It’s not always cut and dry, but I will give you some good suggestions to consider before you decide.
3 Ways to Know It’s the Best Time to Sell your Home
1. Do you have the funds to sell and move?
Maybe you are now out of debt and have some equity in your home. This could be the perfect time to sell and move on. Review your finances and see if you are prepared to cover what will be required for the closing costs, moving costs, and of course, a new loan. This might be the easiest section to review first in order to decide if it’s a great time to move.
2. Your current home equity
If you don’t have any equity, and unless you absolutely have to, this likely isn’t an ideal time to sell your home. If you are selling your home without any equity in it, you will still owe the remaining balance on your loan. You’ll want to wait if you can, at least until you can break even and not owe the bank once you sell. Selling without equity will leave you without anything from this home sale to put towards your new home. If you can wait to accumulate more equity in your current home before selling, it will be best to do so.
Now, if you do have built-up equity in your home and maybe you even have a reserve of 20% for your new property purchase, you could move into a new place and avoid carrying private mortgage insurance (PMI). Having a positive equity situation could also be a great time to move.
3. You’re ready to sell your home and move
You have wanted to move for a while and the funds look good. You’ve been watching the market, it’s a good time of year, and some of the houses you’re interested in fit into your price range. You’ve reviewed what a move will entail and considered the work involved to sell, buy, pack and move.
If you’re still excited to find the next great place after your analysis, then this could be the perfect time to sell your house!
Why Choose Me as Your Real Estate Agent
When you are ready to sell your current home or buy a new one, look to a top rated and experienced real estate agent. An agent familiar with the locations you love, types of properties you love, and times of year to sell in the Memphis area. Whether it’s residential, commercial, or open land you’re looking for, work with a real estate professional who you can trust
Click here to learn more about me and how I can help you with your home sale, buying parcels of land, or looking to move to a new home. My skills and education are focused on what you need for a great real estate experience. I would love to chat with you and answer any questions you might have. Contact me at (901) 828-8919 or drop me a quick note angie@angiekelley.com. Look forward to speaking with you today!
