Is It the Right Time to Sell Your Home?

Posted on Tuesday, January 10th, 2017 at 2:59pm.

Is It the Right Time to Sell Your Home?

Are you wondering if 2017 is a good time to sell your home? Here are a few questions to ask if you're considering putting your home on the market.

Have Your Needs Changed?
Take some time to examine your feelings about your current home. Have you outgrown the space? Is your home too big? How’s the commute to your job? What about your neighborhood school district? If your current home doesn’t fit your needs, now may be the time to sell.

How Much Equity is in Your Home?
As you make monthly mortgage payments, you build up equity in your home. If you're not sure how much equity​ ​you've accrued, you can estimate it by comparing the amount of your mortgage to your home’s value. Ask your REALTOR® or lender for help determining equity. Usually, the less you owe on your home and the more your home value has increased, the better shape you’re in to sell.

How’s the Market?
The market situation in your area is a big factor in selling your home. Overall, Austin has been in a seller’s market during the past few years with a strong demand for homes. However, the market can also vary neighborhood to neighborhood with homes selling faster in some compared to others. Your REALTOR® can help you understand the selling market in your neighborhood. If there’s a high demand for homes in your area and they’re selling fast, it could be a good time to add your home to the market.

Are You Ready to Buy?
If you think you’re ready to sell​ ​but still desire homeownership, you must also be prepared to buy. Examine your finances and talk to a lender about how selling your home could impact a new mortgage on a new home. Also consider whether​ ​to sell first, then buy a new home, or buy a new home first before selling. There are pros and cons to each situation, so be sure to ask your REALTOR® for advice.

Whether you’re ready to sell or just considering it, our expert agents are ready to answer your questions. Check out our Austin Seller’s Guide for more details about the home selling process, or give us a call for more information about Austin real estate.

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