Selling a home is not an easy decision at all. Sometimes we think about selling the house because we need to buy a bigger or smaller house, or we just want to live in a different area, but have you ever wondered if you are really ready to sell your house?

In this guide we share some guidelines for you to identify if you are ready to sell your house.

Before putting your house up for sale

Before placing your house on the market, you must be 100% sure of the step you are going to take. You must prepare yourself emotionally to leave the house, since surely there are many memories that will make it difficult for you to part with it.

If you are still paying part of the house, you should be sure that by selling it you will get a good return and that your debt does not exceed the amount for which you will sell it.

How is the market?

It is important that you analyze the market situation, if it is in favor of the buyer or the seller. A buyer’s market occurs when the supply of properties exceeds the demand, which gives buyers certain advantages over sellers in relation to the purchase-sale price. The opposite case is the seller’s market, where demand exceeds supply and the seller has price advantages over the buyer.

It is also necessary to know the situation of the last houses that have been sold in your community. If you identify that homes are currently high in value but that there is a threat of a financial crisis possibly affecting the value of the home, you will want to sell it before your home is devalued as a result of the crisis. Otherwise, if there is a tendency for its value to increase, you may have to wait for your house to increase in value before putting it up for sale.

To know the market situation, it is good that you work hand in hand with a real estate agent, who can advise you to get the best benefit from the sale of the house.

Sell one house to buy another?

If you want to sell your house to buy another because you would like to live in another area or because you want a different size, it is essential, before putting your house up for sale, that you make some inquiries about the prices of houses in the area that you want. You would not like to sell your house and then find out that you do not have the money to buy the one you want. You would end up paying rent on a house and spend the profit you got from selling your house.

Your real estate agent could also advise you with these investigations. It would be a good option for you if the same agent that helps you sell your house, also advises you on the purchase of the new property.

List your house for sale

Once you are ready to part with your house and you have analyzed that it is a good opportune time to sell, it is time to get your house ready without making any major improvements. To sell your house in the shortest possible time, you must organize it in such a way that it is as attractive as possible, but you must do an analysis to modify only the things that will add value to your house. For example, if you build a pool that costs you $ 30,000 and at the time of appraising the house only increases $ 15,000, you would be making improvements and losing money. Each house is different, therefore we could not tell you general aspects on what you should modify or not, just keep in mind that the kitchen and  the bathrooms are one of the crucial points that buyers always analyze when buying a home.

Contact a real estate agent, who can advise you on the adjustments that your home needs to obtain a higher profitability.

If after reading these guidelines you feel ready to sell your home, we invite you to continue reading the next step of our guide “Putting your house up for sale”

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