7 signs

7 Signs it may be time to Sell Your Home

Watch the video below, or read the blog post

So today I’ll be discussing the 7 signs that it may be time to sell your Langebaan house

Wondering whether it’s the right time to sell your home in Langebaan? if you’re on the fence, here are a some signs that can help you identify whether or not you might want to sell your your home.

1. You’re emotionally ready to move

You have to ask yourself if you’re ready to move? A sign it could be time to sell is that you cannot help yourself browsing the latest properties for sale on the Internet and you’re day-dreaming about a new place.

Just keep in mind that even at  the best of times, selling a home can be an emotionally challenging and stressful process. And the more intense your emotions about selling your home, the more your judgment may grow clouded.

So when make the decision to sell your home, view it as a purely business transaction. This will help you to distance yourself from the emotional elements of selling your home.

2. You’re financially ready to move

You have to make sure that your finances are in order before selling your current home and buying a new one. This is particularly important if you’re planning upgrade to a larger and more expensive property.

3. You’ve built up positive equity

In order to ensure you’ve built up enough equity in your current home, it is recommended that you live in it for at least five years. If you sell too quickly, you could end up losing money as a result of all the costs involved in selling a property.

When I talk about positive equity the difference between what your owe your bank and what your home is currently worth. So let’s say you can sell your home for R3m and you owe the bank R1m, you’ll have R2m in positive equity.

4. You’re in a seller’s market

During a seller’s market there are more buyers in the area than there are sellers. And when demand is higher than the supply, home prices increase, which benefits sellers.

So how do you know if it is a seller’s market? Well you can either speak to your local estate agent or do your own research. Signs that it is a seller’s market could include things such as how fast properties are selling in your neighbourhood and at what price.  In a seller’s market, homes usually sell faster, leaving a limited number of properties available for sale. And if you start seeing less for sale signs up in your neighbourhood as well as higher home prices, chances are that you’re in a seller’s market.

5. You’ve outgrown your home

If you are feeling cramped in your home — or you’ve had children or you’re now working form home and really need a home office — you’re likely to have outgrown your home.

 6. You’re ready to downsize

On the other hand, maybe your home is simply too big, and you’d prefer something that is smaller, more affordable, and more manageable. Downsizing would mean lower bond payments and lower maintenance costs in general. Perhaps you can buy a smaller home for cash and reap the rewards of being bond-free.

7. Your neighbours sold for above the asking price

Your neighbours just sold their home for more than what they were asking and they made a lot of money in the process. You find out that you’re currently in a seller’s market, and you feel confident that you can sell your home for more.  It could be the perfect time to sell your home, and you wouldn’t  like to lose out on the opportunity.

So what to do next? Well you can go online and visit freehomevalue.co.za to get an estimated value of your home. Or you can visit your local real estate agent and get a feel for how much your home could sell.

While I hope these 7 signs to sell your house was helpful, at the end of the day the decision to sell is up to you.

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