2018 has been an incredible year to sell a home, both here in Wichita and across the U.S. It has many homeowners who don’t have to move wondering if they should get in on the action.
The right time to sell a home depends on more than just the market. Lifestyle, personal finances and upcoming life changes are all factors. If you’re trying to decide whether to sell your home now, here are some questions to ask.
1. Are interest rates going to go up? Will the market be as strong a couple of years from now as it is now?
No one but the Fed can say for sure, of course, but we feel that interest rates are going to go up. 2018 has been the hottest housing market in years, which begs the question—are we near the bubble? We don’t know the answer to that, but we DO know that it’s good NOW, meaning it’s time to take advantage.
2. Do you know where you want to be in the next 4-5 years?
Do your future plans involve starting a family? If so, it might be time to move from your starter home and/or into the school district of your choice. Or do you plan to retire and downsize in the next four to five years? If life changes are on the horizon, this may be a good time to take advantage of the market and make your move now.
3. Have you thought about the cost of selling your home now, compared to remodeling your home in the next 3-5 years?
For instance, let’s say your home hasn’t been updated within the last 10 years. The value of your home could potentially decrease or the money to remodel it could be way more expensive than the cost of moving. A full remodel is WAY more expensive than the cost of moving.
4. Last but not least, are you really living in your dream home right now?
If the market slows down in the near future and you’re finally ready to sell, you might have missed out. Why not take the steps now in a market that’s hot and homes are going for incredible prices?
If you’re in Wichita and are even thinking about selling your home, contact Madrigal Team Gold for a valuation. It never hurts to find out!