So you feel like it’s time to move. But you keep asking yourself, should I sell my Ocala house now? After all, there is so much family history in your home. There are so many memories packed within its four walls, not to mention all of your stuff. Here are a few thoughts you may want to consider. As you contemplate each, one may provide the guidance you need to decide whether moving this year is right for you and your family:
➀ Does your home no longer match your lifestyle?
You’ve grown, but your home hasn’t. Outgrowing a home is a natural progression in life. Are you expecting a child, or is another relative coming to live with you? Do you feel cramped during the holidays, or find yourself wishing you had more space to entertain? Do you feel like your home is busting at the seams and you need more storage space? Or would you be happy with your home if it were just in a different neighborhood, closer to friends or family? Whatever your situation, if your home or neighborhood no longer fits your needs, the time is probably right to sell and find a place that better conforms to your lifestyle.
➁ Do you want to put the equity in your home to better use?
Carefully analyzing your financial position will help you decide if this is the right time for you to sell. As home values have risen over the past two years, most homeowners have accumulated a significant amount of equity. Will your home’s sale provide enough cash to pay off your mortgage and selling expenses? If so, how much will be left? Will your net proceeds allow you to purchase a new place that delivers your desired lifestyle? Then it may be a good time to put your home on the market.
➂ Is your home’s upkeep too much for you to handle?
It may be time to consider selling if your to-do list seems too long, or you no longer use most of the rooms in your house. If you are looking for a more manageable home, one that requires less cost and effort to maintain, you could benefit from selling and downsizing.
➃ You’ve earned it! But does investing in upgrading your home make economic sense?
You are considering a major renovation project or addition. But will it increase your home’s value, or price you out of your current neighborhood? It’s always best to determine the impact of such a major investment on your home’s future resale value first, even if you are not contemplating selling anytime soon. While you may yearn for and have earned a lifestyle that your current home cannot deliver without major upgrades, investing in them may prove an unwise economic decision. You may come to understand that it is more prudent to move than to over-improve.
As you answer each of these questions and begin to understand how they impact you, any one of them may provide an answer to your question: Should I sell my Ocala house now?
Below are a few articles that will further educate you as to the process of determining whether this is the right time for you to sell. Take the time to read them. Our opinion will follow.
The Best and Worst Time Of Year To Sell A House
Timing is everything when selling a house. Sellers can potentially net thousands of dollars more if they sell during the prime months.
BANKRATE | JEFF OSTROWSKI
Should I sell my house now before prices crash — or wait for the next real estate boom?
The housing market is changing fast. Educate yourself so that you can act correctly in response to the changes.
When Should a Senior Sell a House? Is Now a Good Time?
Are you thinking about selling your house? Find out when it’s the best time to sell your home.
“A man travels the world over in search of what he needs and returns home to find it.”
–George A. Moore, author
Our real estate market is strong and projections point to continued material appreciated over the intermediate to long term. Additionally, we expect stability over the short term. In this market, our view is that the answer to the question, “Should I sell my Ocala house now?”, is highly personal. It depends on your financial situation, your health, your needs and your desires above all.
While we do not have a crystal ball, we are confident that the investment you make is a home today will yield material growth in equity over the next five to ten years. But we are equally confident that the investment you already have in your current home will as well. Therefore, we recommend that you evaluate your situation and think carefully. In the process, we advise you to consult with experts such as your accountant. Of course, as experts in the Ocala market, we would be glad to answer your real estate related questions and educate you as to local market forces. Then, should you decide that selling is the right decision for you and your loved ones, we would be proud to put our expertise to work for you.
Andrew Kruglanski, MBA, ABD, Broker