Some people stay in their house because the idea of selling hasn’t even occurred to them. While the house might not be meeting their needs, the idea of moving is a distant thought. We become so comfortable in our houses, that we fail to remember that we don’t have to live there forever! How do you know when it’s time to sell your Riverside County house? We will give you a few signs below!
Sometimes selling can seem more cumbersome than living in a cramped or run-down home. We have all been there. We know our home is no longer working for us, however, we stay because it is our “home” after-all. But you don’t have to stay there forever. It might be difficult leaving a home where you have made so many memories, but there comes a point when selling becomes absolutely necessary.
How To Know When It’s Time to Sell in Riverside County
You Need More Space!
What would having more room mean for you? You could finally have the quiet office you have been dreaming about or a pool built in the yard. Your house shouldn’t feel cramped or as if two people are living on top of one another. There are plenty of available homes available right now in Riverside County, there is no reason why you should feel stuck in a tiny home! Give yourself a little space!
Your House is TOO Big
You don’t want it. You didn’t ask for this much space. But now you’ve got it and you can’t give it away. Why does this happen? Sometimes, people inherit their parents’ or grandparents’ homes. They then live in that house with paychecks that are tiny compared to the cost of running such a large property – especially if there is no mortgage on the place.
Other times, families buy big homes because they plan to fill them with children and roommates who will help offset the costs of occupying such a large property through rent payments or sharing expenses like lawn care, utilities, and food costs.
Your House is Competitive
Did your neighbor’s house just sell for an unheard of amount? Is your house similar, if not better? If houses in your neighborhood are fetching high prices, you may want to consider selling before that bubble bursts. Keep your eye on what other houses nearby are doing and see what people are asking for vs. what they are actually walking away with. If the profit is there, it might be time to go for it!
You Can Afford It
So, you’ve found the home of your dreams. Congratulations! But don’t let the dream become a nightmare by forgetting about the costs associated with buying and moving. Use this article as a guide to help you plan for those expenses, and you’ll be able to afford your new home without breaking the bank.
The first thing you need to consider is the down payment. Most lenders require at least 20% down, so make sure you have that saved up. Additionally, there are other upfront costs to consider such as closing costs and moving costs.
You Are Emotionally Ready To Move On
It might sound silly, but you need to be ready to leave emotionally. For some people, moving means closing a chapter of their lives. A house may have seen years upon years of memories made. It can be hard to let go and move into a new place that doesn’t yet offer the same sense of home. If you decide it is time to move, make sure you are really making the decision that will give you the most happiness.
Consult A Pro
Discuss your options with an agent, accountant or financial advisor. There is no formula that can tell you the perfect time to sell. However, you can tap into the knowledge of local professionals who might have a greater understanding of the local markets. A financial advisor can help you determine if a move will beneficial for you from a financial standpoint. They are professional for a reason, and their opinions should always be considered when opting to sell!