But just because you can turn a profit doesn’t mean it’s the right time to sell.
Here are 5 questions to ask yourself before putting your home on the market:
Maybe your youngest is headed to college and the house is starting to feel too big. Or maybe you’ve been living in a studio loft downtown, but you are expecting your first child and need space for them. Those types of thoughts usually fall into the need to move camp.
But if you are just interested in a little more space, being closer to work or having a mountain view, you likely fall into the want to move camp. In this camp, you generally have more on your ‘want’ list since moving is more of a hope.
Where do I want to move to?
Selling your home means finding another place to live. This can be a better house in the same neighborhood or finally moving in to the neighborhood of your dream. In a lot of Denver’s most popular neighborhoods homes are flying off the shelves meaning you have to make quick decisions. Schedule a meeting with your Realtor® to talk through your wants and needs to find areas that work for you. Spend some time driving around potential neighborhoods, walking through the parks and checking out nearby restaurants.
Is my dream home in the budget?
Before you put your home on the market, you need to do your research. You don’t want to get your home under contract only to realize you can’t find what you want within your budget. Meet with your lender before listing to get a good understanding of what you are preapproved for before making any final decisions.
What will I actually net?
It’s important to meet with your Realtor® and lender before getting too far into the decision making process to get an idea of what your net would be if you sell. Your agent can do a Comparative Market Analysis for you to give you a good idea of what your home’s value. They can also advise on average fees, closing costs and other expenses associated with selling your home. Knowing your ‘real net’ before you list sets up realistic expectations and will allow you to make educated decisions as offers come in.
What will it take to get my home market ready?
Although inventory is still low, buyers aren’t going to pay a premium on just any home. Take an honest look around your home to see where you have room to spruce up or make repairs. The banging pipes might be something you are used to but could be a red flag for buyers. You might really love the orange accent wall, but buyers might have a hard time picturing their belongings and style in the home with too much personalization. As you get closer to listing, your agent can advise on the improvements that need to be made to attract the right buyers.
Deciding to sell your home is a big decision. Your agent is ready to advise you on the best time to sell and help you make the right choice. Contact your agent today.