Is 2023 your year to make a move?

The answer is not simple. There may be times when the market is a super-hot seller's market like we’re still seeing in early 2023. But deciding on whether to sell or not should be something that is not based purely on whether you will maximize the selling price. Ask yourself these questions before deciding to sell your home:

1.  Where do you plan to live if you were to sell? Are there homes for sale or rent that you have interest in in this area?

2.  What is your motivation to sell: is it simply to maximize your profit, or do you have other reasons?

3.  How long have you owned the home and what have you invested into the property?

4.  What are your monthly costs to own and operate this home?

5.  Do you have a mortgage? Is it a fixed rate mortgage?

6.  How does the cost of your home match your net worth and income? What percentage of your net worth does the home represent?

7.

What are the current market conditions in your specific classification and location. What are the projected longterm trends?

8.  How new/old is your renovation/condition of your home? When might it need renovation? If recently renovated, when might its added value to the consumer start to fade?

9.  Have you seen the properties your compares closest to to better understand what they are listed for, what has recently closed and what was recently signed?

10.  Will your home need repairs, additional maintenance, renovation, assessments, higher real estate insurance/taxes in the coming months and years? Do you have a complete accounting on estimates for cost?

11. How much time do you have?  Are you willing to sacrifice your need for space for the PERFECT time to sell? If you are buying a larger home, selling in a down-market may have an upside on the BUY side. 

These are just a few of the things to consider when deciding to make a move. A home is a substantial investment requiring serious analysis, evaluation and consideration. Substantive, non-googleable or non-do-it-yourself advisory with real fact-based insight is an invaluable service that Vesta Home Team provides to clients.

We can help you understand how your answers to these questions can aid in your decision to make a move. At Compass, our goal is to help you find your place in the world!