Knowing reasons to sell your home

Deciding to sell your home can be difficult. 

Sometimes homeowners have to sell their home out of necessity; others do it because they need to make a shift; others choose to sell because of favorable markets. There are various reasons to sell your home, but the decision to sell is a process of its own. 

Recent reports from the National Association of Realtors show that existing single-family home prices have increased significantly in metropolitan areas. This has been due to limited inventory. By having a shortage in the supply of homes, there is an excellent opportunity to capture a higher value on your home if you decide to sell. The challenge is that homeowners who elect to sell may have difficulty finding another home at a reasonable price.

Talking with your real estate professional on what you hope to achieve with a sale and by having them perform a market analysis, you can determine the amount of risk associated with listing your home in a face-paced environment. Another factor to take into consideration is if the market is anticipating a slow-down. Stemming from an increase in interest rates, while they are at an all-time low, this may change. A lender can pre-qualify you before home shopping and help you to determine when is the best time to sell and buy your home.

Selling your home can be a difficult choice if you are doing it only for fiscal reasons. Sit down and make a list of goals. Knowing your goals will help you to be satisfied with your real estate choices. It will also be helpful when you are talking with your real estate agent to make sure they are representing your desires. Consider your needs, wants, and finances as the building blocks of your selling goals; start with the most significant needs, then add your wants in order of importance, next use your financial picture as a lens through which to view it all. Finally, take this list to your REALTOR to discuss what you can achieve in the current economy and marketplace.