If you’re reading this blog, you’ve probably been following the housing market which has been highly competitive in our DFW metroplex for more than two years. If you’re like many property owners, you’ve probably thought about selling and taking the big gains you have in equity from the historically high appreciation and using it to move up or scale down based on your lifestyle choices. The nagging question always is, ‘How do I know this the right time?’
The decision to sell your home is a big decision and picking the perfect time to make your move is a big challenge and one we don’t recommend you make without advice from an experience Realtor. You should look for a Realtor that has navigated similar markets that we are in, such as the mid-80’s, late 90’s, 2008-9 and 2013. These were quite tumultuous periods in the real estate market and this experience is priceless.
Here are a few questions you might want to consider as you explore what putting your home on the market can look like.
Has your lifestyle changed?The pandemic has caused many homeowners to outgrow their home, or they find their needs have changed in some way. A property might be too small, you may want to downsize, or you might want different amenities – for many that are now working remote it can mean the need for one, or even two, home offices.
Has your property increased in value? Homeowners have gained record-setting equity over the last few years. Determining your property value can give you an idea of your potential profits. Then, you can consider how you might put these funds to better use elsewhere as the market may be in for a cooling trend for a while.
Do you have another property or a plan for where you’ll go next? Be sure to keep the logistics and busy market conditions in mind if you’re buying and selling at the same time. Discussing with an experienced Realtor could save you a lot of time and money.
Have you discussed the details with everyone involved? Selling your house isn’t something you should do on the spur of the moment. This sale will mean big changes, both financially and in your day-to-day life, so be sure everyone in your household is on the same page.
Have you established your goals (and communicated them clearly)? When you’re ready, give me a call at 469-556-1185 for a No Cost / No Obligation discussion of your needs and wants so we can develop a plan that makes sense for you. Once clear goals are established, we can work together to find what you’re looking for.
Still uncertain if it’s the right time to sell? Pick up the phone and let’s discuss your options today – the market is rapidly changing and as he old adage says, “time is money!”