Sometimes the space you live in doesn’t quite work anymore. Is it time to sell? Here is how to know it’s time to sell your home.
How to Know It’s Time to Sell
You’ve Outgrown the Space
Many people purchase homes with the dream of making it their forever home. Although this is admirable, families often outgrow their spaces. A couple who lived comfortably in a 3 bedroom, 18000 square foot home may find themselves cramped after their third baby comes home from the hospital. Sometimes extended relatives come to stay indefinitely and your comfortable space is suddenly too small. If you find that you are using every square foot of your home and wish you had more, you probably need to sell.
You are Commuting Large Distances for Work
Perhaps you don’t mind long commutes for work but, over time, the mileage on your car and the time away from family can wear on you. The extra costs in gas and added car maintenance can start to make that commute, with which you were willing to endure before, now terribly unbearable. As populations continue to grow, traffic in major cities will continue to increase. If you want to lose the commute, consider selling your home.
The Neighborhood has Changed
One of the biggest factors in choosing a home should be based on the neighborhood. If you have small children, you are hopeful to find other children with similar ages living on the same block. If you’re empty nesters, you may buy a home based on how quiet it is. Sometimes quiet neighborhoods become busy and loud. Sometimes a neighborhood that boasted “family friendly” is no longer filled with young families. If your neighborhood changes from that which you originally purchased it, you may want to consider selling to move to a neighborhood that better fits your needs.
You Can’t Make the Monthly Payment
The economy and job security is not as predictable as we all like it to be. A job loss or reduction in income can make a huge difference. If you are struggling to make the monthly house payment or take care of bills such as utilities and house insurance, you are what they call “upside down”. It may be hard to acknowledge that you can no longer afford your home. However, selling your home can relieve a lot of the financial burden you are feeling.
Your House is a Literal Money Pit
Every house, even brand-new builds, can have unexpected expenses. A hail storm comes through and damages your brand-new roof. Your child accidentally overflows the bathroom and ruins the hardwood floors. As they say, “These things happen”. However, if you find yourself in a constant state of emergency repairs and taking out more loans to pay for these repairs, you should consider selling your home.
Adding On or Remodeling is Not in the Budget
Oftentimes, homeowners will opt to remodel or make additions to a home when the space no longer fits their needs. Home remodels and home additions can be costly. If your budget does not allow you to modify your space and you are unhappy with the aesthetics or function, it may be time to sell.
You Need a Better School for Your Children
One of the biggest determining factors in purchasing a home is the quality of schools. Sometimes, school zones change or highly rated schools become lower rated schools. If you are not happy with the schools into which your neighborhood empties, selling your home can be a wise move.
Family dynamics can be the catalyst for selling your home. Whether you are adopting, have a special needs child, have a death in the family or find yourself going through a divorce, selling your home may be what is best for your family in this season.
Your Space is Too Big
As your children age and move out of your house, you may find that your space, that was filled with toys, and foot traffic, and a constant flurry of activities is now quiet and empty. When that happens, downsizing can be a great option.
Your Job Relocates
When your job moves locations, it can be both exciting and scary. Do you follow your job and sell your home or stay where you are and look for a different job. Most people will opt for following the job.
Regardless of the reason for selling, we’d love to help! At Ben Buys Indy Houses, we purchase homes in AS-IS condition. The process is easy and quick. Contact us for more information and check out what one of our clients, who was moving out of town, had to say about the process!