How to Know When You’re Ready to Sell Your Home

Katherine Roberts - October 30, 2022

If you have been thinking about selling your home but can’t seem to pinpoint if and or when it is a perfect time, you are not alone. Homebuyers and sellers alike frequently look to find the best time to buy or sell. Between gauging the market and deciding you are ready to part with sentimental attachments to your home, lining up perfect timing can seem unlikely and dicey. But, being aware of key indicators and telltale signs will help you identify the perfect time to put your home on the market so you can experience your ideal sale with an ideal buyer.
Let’s mull over some points that will help you identify when you are ready to sell your home.

It’s currently a seller’s market

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Preston Hollow real estate can hold a competitive market. At any given time, it may favor a buyer or seller. Catching the market when it is swinging in your favor points to an ideal time to sell. Seeing local home prices increase while sale times decrease is a green way to be able to tell when the market is in favor of sellers. Homes in high demand can be sold for more. They also tend to sell faster, and more homes in the area at that time will become for sale since other owners are realizing it is prime time to complete a sale.
This is an ideal time to list your Preston Hollow home for sale! If you were previously iffy on your desire to sell, or when to do so, this could be a key factor to sway you toward selling instead of keeping your property. For many homeowners, this can be the sole deciding factor of when to complete a sale since the financial gain in a perfect home sale can be a key motivator for most. Sure, getting your asking price is great. But, in a booming market, it’s possible to get well over your asking price. When buying one home to sell another, these extra funds can be monumental in the purchase of your next home.

You have enough equity and liquid funds

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When conducting a sale, being cognizant of the financial setting in which you are selling your home is key to avoiding cutting your profit short or gouging amounts from your personal funds. Selling a property should be done with positive equity in an ideal situation. If your home is mortgaged, it’s a great idea to wait until it has built enough equity to pay down the current mortgage. Handling the sale this way will make it easy to come out with a 20% down payment for your next property.
Selling will also require certain upfront costs. Supporting your move-out, move-in, staging, any touch-ups, repairs or photography, and closing costs are things to keep in mind. This requires additional, liquid funds you can readily spend. If possible, chat with your realtor and financial advisor to discuss these costs and obtain a ballpark for what you can expect to spend.

You are ready to move

Quite simply put, you might just be ready to move. Be it for one specific or a litany of reasons, you deserve to do so. If your current home was your first purchase, it’s possible that your family has outgrown or is in the process of outgrowing the home you are in now. You might need more square footage, a few extra rooms, or certain amenities that your family would benefit from.
In other cases, a move might be necessary for relocation purposes. It is common for people to switch local areas, states, or even countries, and not want to keep their property while they are away. This is a perfect condition for a sale, especially if your home is still in great condition and the market favors sellers.
Maybe there is simply a desire to experience a new home with different features, interior decor, and style. For design aficionados, buying or selling one or many homes over the years to keep their surroundings fresh is common practice. No matter the reason you are ready to move, it’s important to identify the best time to make that a reality.

You have found a new home

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If you have already found and purchased your new home, solidifying the decision to sell will be second nature. This can be a common way to go about moving house since it acquits any uncertainties about where to stay if your property is purchased before a new one being found.
In a case where the purchase of your next property has already been closed, you have the added perk of keeping the proceeds from the upcoming sale without having to worry about utilizing those funds for a deposit on your new home.

You have your ideal realtor

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Finding an agent that fits your needs is the biggest part of knowing when it is time to sell your home. Even if you aren’t certain about any of the other points, a realtor can help you work through them to figure out if it is the best time for the sale.
if you identify with many of the aforementioned scenarios and criteria, engaging in the sale process is nearly impossible and infinitely more difficult without the support of a local realtor. Selling your home with the help of a realtor will take the guesswork out of the sale process. You will be able to navigate things like pinpointing your home’s equity, budgeting amounts for necessary sale activities, and realizing when the market is prime for sellers.
For help navigating the local Dallas real estate market, Katherine Roberts of Sotheby’s is your ideal option for completing the sale of your home in a great turnaround time. Request an appointment to get the ball rolling on your sale, or to pinpoint the best time to sell.

*Header photo courtesy of Shutterstock

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