Sometimes in life, you just have to leave the past in the past and move forward. This applies to many aspects of life, but to your living situation, in particular. If you own your home, you can't just pick up and move as easily as you could if you lived in an apartment. So you'll want to put some thought into whether selling your home and moving on is really the right choice. Here are some signs it's time to sell.
Your home does not seem like a good fit anymore.
You bought a house that fits into your lifestyle five or ten years ago. If your lifestyle has changed, the home might feel like it no longer fits. Maybe you have one less bedroom than you really need, so two of your kids need to share a room. Perhaps you really need more storage space, so you're renting a storage unit and your closets are stuffed to the gills. A home should work with your lifestyle. If yours does not, it's time to sell and find one that does.
You can afford a lot more.
Has your income gone up substantially since you purchased your home? If so, you can probably afford a lot more home than you currently own. It's a good time to go to the bank, see how much they'll approve you for, and then start shopping for a new house that lets you live more in line with your means.
The home's value has gone up substantially.
The real estate market ebbs and flows. Your home may have been worth $120,000 when you bought it, but now the neighbors are selling their similar homes for $200,0000! If this is the case, it's a great time to sell since you can make a huge profit. Put that money into a new home you like even more or save it for retirement.
You are driving way too much.
If you have to drive more than 30 minutes to work every day or you are a long way from the places you visit for hobbies, you may want to sell your home and move closer. You'll save so much time by shortening your commute and you'll save money on gas.
If you're still not sure whether or not it's time to sell your home, talk to a real estate agent. They can tell you how much your home is worth, which will help you make the decision.Share