5 Signs It’s Time to Sell Your Houston Home

1. Your Family’s Needs Have Changed

It’s common for young families and first-time buyers to purchase a small starter house. With new additions to the family, like children and pets, there might be a chance that your home no longer suits your family’s needs. For example, your kids may have to share a bedroom, or you find guests camping on the living room couch.

The reverse is also true. Once your kids leave the nest, you might find that you have too much space. In this case, it’s common for retirees to downsize their property and move into more compact and senior-friendly homes.

2. The Market Is Right

Before selling your home, it’s a good idea to study the market. Check if the current trends point to a buyer’s or seller’s market in your neighborhood. Take advantage of a seller’s market as you can sell your home quickly and for top dollar. Another idea is to find out the estimated value of your home and see if it makes sense financially. Some key factors to consider include:

3. You’ve Built Up Adequate Equity

Equity is a crucial factor to consider when deciding to sell your home. Real estate experts recommend that you live in your house for at least five years before listing it on the market to ensure that you’ve built up enough equity. Selling too soon can cause you to lose money because of the closing costs and outstanding mortgage. So, if you’ve hit that five-year mark and looking for a change, then it’s another good indicator that it’s time to sell.

4.A Renovation Doesn’t Add to the Property’s Value

If you’re thinking of remodeling your home to suit your changing lifestyle needs, first check whether the renovation pays off in the long run. If your home fetches a reasonable price right now, it makes more sense to put off the renovation and use the funds to purchase a new property instead. It is also worth researching what type of remodels have the best return on investment.

5.Watch Out for These Telltale Signs

Ultimately, the decision is up to you. Analyze your finances and lifestyle to decide if selling your home right now is a good move in the long run. If you’re not ready to sell the house but are looking to purchase a new home, you can consider renting out your old property. However, if you’re looking to make a quick sale and raise money from your home, you can consider selling to off-market buyers.

Reach out to Move On House Buyers, one of the best cash home buyers in Houston. We buy houses in Houston in any condition and pay a fair price. Contact our team to get a free estimate of your home’s current value.

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