If you are a regular reader of my blogs you will remember my blog about buying or moving your house for a school place. In that blog, we discussed how Covid has impacted the prices of houses & if it is wise to move your house for a school place.
In fact, with the prices of houses & rental costs being so volatile these days, that if one has to move their house for a school place, they have to also think about what they will do with the house that they are staying in right now if they own that house.
They have 3 options:
Either, they sell the current house or rent it or just keep it empty.
Today in this blog we will discuss about selling your house after the pandemic. Let’s find out when to sell your house and the right time to sell it.
When is the right time to sell your house?
The market is not only changing, but it also varies depending on the region. To find out when is the best time to sell your house, it’s important to assess the market and determine if you are in a good position.
If you are looking for a buyer who can pay more than what your home is worth, then now might be the right time to sell. If you are looking for buyers who want to purchase a home that has already been renovated or updated, then now might be a good time as well. If you’re not sure what type of buyer you’re looking for, then it might be best to wait until someone comes along that meets your criteria.
Let’s look at some more concrete ways to tell that now is the right time to sell your house.
When You’ve Improved It Enough
Selling your home after renovations can be a great way to make money. It is important that you take the time to learn about the market, what makes a home sell, and how to price your home.
The process of selling a home after it has undergone renovations can be an exciting experience for many people. However, there are some things that you should consider before you sell your home.
Some homeowners decide not to sell their home after renovations because they want to enjoy the fruits of their labor for a few years before deciding what they want to do with it. However, if you are looking for a quick sale or need more money earlier than anticipated, selling your home can be a good option.
When the Market Is Right
If you’ve been asking, “What is my home worth?” you might want to consider the market before doing anything.
In recent years, there has been a significant rise in the number of people who sell their houses and buy new ones. This is because homes are becoming more expensive and it is difficult for people to find affordable homes.
The high demand for houses has led to a decrease in the number of homes available on the market, which means that sellers have a lot of power in these transactions.
This means sellers have been making out quite well in the current market. Seeing this sort of thing happening is a good indicator that now is the right time to sell your house.
When You Need a Sudden Windfall
Going by the current market scenario, selling a house NOW, will give you a lot of extra funds. That in itself is a good reason & time to sell your house.
Many people who sell their homes find themselves with a lot of unused money, which can be difficult to know what to do with. The best course of action is to use these funds for something of value, not to waste it on trivial things.
So as we have established that NOW is the right time to sell, you might want to think on what you would do with the extra amount of funds that you will be left with after repaying your mortgage/debt.
The stress of selling your home and the financial implications can be overwhelming. With this in mind, we have compiled a list of six things you should do with your house sale proceeds. All of them are worthwhile in the right context:
1) Invest in yourself
2) Pay off debt
3) Pay for retirement
4) Start saving for the future
5) Buy something new
6) Give to charity
What would you do with the extra fund you get after selling your house? Do comment below & let us know your thoughts.
I am always happy to get your feedback & know your thoughts.
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See you in my next blog 😍
We sold ours in September last year when the market was crazy! We managed to get a lot more than we thought for our house and moved to an area where house prices were significantly less. Moving out of the city was the best thing! I think we were very lucky things happened when they did. We managed to exchange the week before stamp duty came back in too! Phew. Thanks for sharing this! Such an interesting topic.
I know the property market right now is going really crazy. I am glad you are happier in the new house 🙂
Thanks for sharing your experience.
Great tips to know when. we should keep an eye on the market to sell it at a good price. Thank you for sharing these helpful factors in selling the house.
Thanks Fransic. I am glad you found the post helpful.
This time next year we will be looking to list our home. It’s a new townhome in a good area, but townhomes are tricky to sell. Thankfully we’ll be in the heart of PCS season and hopefully we can get at least $10k over what we owe so we can use that money on our forever home. Great post!