Have you considered listing your home, but you're not sure if it's the right time? Selling your home and moving to one more suited for your lifestyle or desired location can mean major upheaval, but not taking the opportunity when handed to you could be a mistake. Here are five signs it's time to move on, according to our real estate agents.
- You've built up some equity.
Ideally, you should have some equity in your current home before selling and buying a new one. If you've lived in your house for a few years, or if Wichita homes for sale in your area have significantly risen in value since you bought your home, you should have gained some equity. Most likely, when you sell for a new home, you'll be trading up, and having equity will help you afford more house with your next purchase.
- You want to get ahead of rising interest rates.
Interest rates are on the rise right now, and they're sure to rise more in the coming months. Though it may seem counterintuitive, raising interest rates helps to control inflation and skyrocketing housing prices. As a result, if you've been planning on taking advantage of the increase in equity and selling your home so you can buy a new one, delaying much longer could cost you money as interest rates continue to climb.
- Your housing needs are changing.
Our families and lifestyles undergo many changes over the years, and sometimes our homes can't keep up. If your family is growing, or even if your family has shrunk as adult children have moved out, it may be time to look for a new home that better suits your needs now and in the foreseeable future. Work needs may dictate a move, too. For example, you may be ready to move if your commute has become unbearable or you need a better home office because you work from home.
- You just need more space.
We tend to fill all our available space, so if you feel your once-too-big home has become a tight squeeze, you're not alone. There's only so long you can keep trying to downsize before facing facts. If you're out of storage space in your current home, it might be time to sell so that you can look for something bigger.
- Your neighborhood is changing.
A changing neighborhood doesn't have to mean the neighborhood is worsening. If you're starting a family while all your neighbors are retiring, you might want to move to a neighborhood with more young families so your kids have friends to play with. Likewise, if you're empty nesters considering a life of travel once you retire, you may now value lower maintenance over more space and a big yard.
Listing your house and moving can be a big decision, even if you know you've outgrown your current home. Change is hard, and we understand that! When you're ready, contact us. We'll help you sell your old home and find a new one you'll love even more.