When considering whether or not to sell your home, you may think about market conditions. You may consider whether it’s a Buyer’s or Seller’s market, and look at trends or try to time the sale to get the best price for your property. While market conditions certainly can play a role in deciding whether you should sell now rather than later, many other factors can influence that decision too.
For example, you might have outgrown your home and need more space. Perhaps you need an extra bedroom or a larger kitchen. If you wait until market conditions are perfect, you may languish for months — or even years — in a home that’s too small for you.
The same can be said for downsizing.
Another “non-market” reason you might want to sell your home sooner rather than later is the neighbourhood. Is there another community more suited to your lifestyle that you want to get into? If it’s a particularly desirable area, you don’t want to wait too long to make a move. If you do, you might lose some perfectly matched opportunities.
There’s also the emotional side of the decision to consider. You might simply want to move for no other reason than you need a change. That’s as good a reason as any to list your home for sale and find another to that better fits your lifestyle.
Other non-market reasons for selling include:
- Wanting a shorter commute to work, or want a dedicated home office now that you don't have to commute.
- The desire to live differently (rural rather than urban.)
- A change in family situation.
- Living closer to relatives and friends.
- Wanting a particular property feature, such as a pool, already renovated or a backyard with mature trees.
Don’t just consider market conditions when deciding to sell. Look at all the reasons and then move forward with confidence. There is ALWAYS a market to buy and sell real estate!
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