You’ve probably heard the buzz in Denver…
“Rates are low. It’s a great time to buy.” OR “Inventory is so low. It’s a seller’s market.”
Actually, both of the statements above are true! But just because we are in a time where there are advantages to buying and selling doesn’t mean it is the right time for you to sell your home. If you have considered selling your home, ask yourself these questions to see if now is the time for you to sell:
1. Do I want to sell or do I need to sell?
Maybe your youngest is headed to college and the house is starting to feel too big. Or maybe you’ve been living in a
cool loft downtown, but you are expecting a baby and don’t know where they are going to go in the small space.
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 can have more on your ‘want’ list since moving is more of a dream than a necessity.
2. Do I know where I want to move?
If you are thinking of selling your home you need to give some thought to where you want to go when you sell. In many areas, homes are flying off the market and not giving sellers or buyers much time to think. Before listing your home, consider meeting with a Realtor® to talk through your wants and needs. They can help suggest areas which line up with your lists. Then take some time to drive the streets, take the dog for a walk in the local parks, check out the neighborhood hotspots, etc. to get a good feel for the area.
3. Can I afford the areas I like?
Sometimes our wants don’t always line up with our bank account.Do your due diligence before listing your home to make sure you can afford your areas of interest. Meet with a lender to get a good idea of what you would be preapproved for. Then take a hard look at your budget and the areas of interest to see if they line up.
4. What will my ‘real net’ be when I sell?
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 is worth. They can also do a "Net Sheet" for you, which will estimate closing costs and other expenses associated with selling your home. Knowing your ‘real net’ before you list sets you up for realistic expectations and will allow you to make educated decisions as offers come in.
5. Is my house ready to go to market?
Although inventory is still low, buyers aren’t going to take just anything. Take an honest look around your home to see
where you have room to spruce up or make repairs. The banging pipes might just be something you are used to, but
could be a red flag for buyers. On the style side, you might really love that lime green 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. The decision to sell or not to sell isn’t an easy one, but answering the questions above and working with your agent will get you into a good position to make the best decision for you.