How to Decide on When To Sell Your Home

There are some events in life that will make it necessary for you to sell your home--good events, like a job in a distant place, and not so good events, like a divorce. The day may come, however, when you think you want to sell your home not because you must, but in response to events—a pay raise, a new child—but you’re not certain the time is right. It is not always a simple matter to decide when to sell your home.

Difficulty: Challenging

Instructions

1. Timing is everything. You want to sell your home when prices are at their highest so you can maximize your profits. In a perfect real estate world, you will get it listed and sold before the market weakens and homes begin to lose equity. Determining that perfect point is your challenge.

2. Evaluate the housing market. It is very easy to find reports that describe the supply of and demand for housing in your area. If many, many potential buyers are choosing from a limited number of homes, it might be an ideal time to put your home on the market.

3. Pay attention to employment data in your area. An expanding jobs market is a good sign: workers need someplace to live. If your area is losing jobs, forcing people to move, you may have a hard time competing for a buyer.

4. Talk with a local real estate professional. Ask lots of questions: Are homes selling? Are you selling homes? What is the average time on the market? Are sellers getting their asking price? The answers to these questions should help inform your decision to sell.

5. Get information from local title insurance companies, builders and contractors. What is their business like? What do they hear around the community?