5 Signs You Should Sell Your Home
Our homes are very valuable and hold a lot of emotional baggage, selling a home is different from anything else because it is such a big change, everyone has heard of the saying “home is where the heart is” selling your home can be a really great thing for you and your family, especially if you are in a position where you should sell your home. We laid out 5 signs you should sell your home today:
- You have outgrown your home
“The number one reason why people sell their home is that they’ve outgrown their space because their family is getting bigger and they’re shopping for a school district,” Mellstrom told Business Insider. If your family has grown maybe its time to consider purchasing a home that is more fit for your families needs especially when it comes to storage. Secondly location is huge for home buyers with kids because of school districts, homes in the top school districts in Tulsa tend to sell for higher prices but in turn you are receiving a better education for your child. Besides, when it’s time to sell again, your home in the best school district will sell for higher so it’s a WIN-WIN!
2. The real estate market is suited for sellers
The best sign to sell your home is in a sellers market, the reason being is a sellers market means more money in your pocket. According to redfin “In May 2021, Tulsa home prices were up 8.6% compared to last year, selling for a median price of $190K. On average, homes in Tulsa sell after 9 days on the market compared to 24 days last year. There were 650 homes sold in May this year, up from 453 last year.” Sellers are currently getting more money for their home than ever before. On top of the record low interest rates, selling your home now to downgrade or upsize is a no brainer for most home sellers in Tulsa.
3. You have equity in your home
Equity in your home means when you sell you will have more money available to purchase a new home, for example, lets say you currently owe $100,000 on your home loan and your home is worth $250,000, your equity on your home would be $150,000. The first step is looking at your mortgage statement to see how much you owe on your home, secondly, determining how much your home is worth accurately is a key step for calculating your equity. It is important to use a local realtor to evaluate your home in the current market. Contrary to common believe zillow is not an accurate home evaluation source as its zestimates run off data and not the condition of the home or the ever changing local market. In fact, in oklahoma zillows estimate was wrong for over 15% of homes sold
4. Your financially and emotionally ready to make a change
If your ready to make a change in your lifestyle or just want a change of scenery, buying a new home is a great fresh start and refresh for your and your family. Plus its a great opportunity to get reorganized and get rid of things that you haven’t used in years. When selling a home and buying a new one it is important to have a financial plan ready, you can discuss with a realtor about how much you will need for a down payment or closings costs.
5. You have talked to the experts
Having the best realtors on your side looking out for your best interests is important to creating the smoothest home sale possible. Selling your home can be a daunting process, especially if it’s your first time. However, by doing thorough research and taking the right steps, you’ll have your home sold in no time!
Are you ready to take the nexts steps to selling your home? Contact your local real estate experts today!