When You shouldn’t Sell Your Home
Selling your home can be a huge decision. You want to make sure that you are doing it at the right time, and when the market is in your favor. If you are thinking of selling your home, but aren’t sure if it’s the right time, here are some signs you should consider! This Franklin TN Realtor will tell you more about them!
Your current mortgage rate is low: If you already have a low-interest rate on your mortgage, it might make more financial sense to keep it than move and take out a new loan with higher rates.
You’re not getting the price you want: You know what you think your home is worth, but if buyers aren’t coming close to that amount, or worse yet – offering substantially less – then it’s probably not the right time to sell.
The market in your area is weak: Even if the overall housing market in your state or country looks good, if locally things are slow, then selling now won’t bring you much of a return on your investment.
There are lots of homes on the market: If there is a lot of competition in your area, it could mean that demand is low, and prices may not be as competitive.
Home values have been dropping: It’s always important to keep an eye on local trends, and if you notice that home values have been declining in your area, then now might not be the best time to sell.
You haven’t had recent repairs done: Buyers want homes that are in good condition – if yours isn’t, then you won’t get top dollar for it. Take care of any necessary repairs before putting your home up for sale.
Your real estate agent isn’t optimistic: Your real estate agent should be able to give you good advice on whether or not the market conditions are right for selling.
You don’t have enough time to wait: If you need to sell quickly, then now may not be the best time as it takes time to find a buyer and close a deal.
You haven’t done your homework: Do some research before making any decisions – look at housing prices in your area and compare them to what buyers are offering so that you know when is the best time for you to sell.