Know when to sell your home

When looking to sell your home there are many complex and varying factors to take into serious consideration prior to putting your home on the market. If you are hoping to have the highest return on your home, you will want to make sure that the time is right, and there are several factors to determine whether or not the time is right. 

Firstly, you will want to make sure that there is even a market of potential buyers for your home. If your home is located on an island chances are you will have a smaller buyer base than someone selling their home in New York City. House hunters are typically most active during the spring and summer months when the weather is best and people are most willing to go out and look at homes. During these crucial months curb appeal is a must to draw people in and have them take a closer look at the home. 

Another important factor to consider is that it is currently financially feasible for you and your family to relocate to another home. If you cannot financially afford the expensive costs of moving it is usually better to stay in your current home until your financial situation improves. 

Also, If you have any equity in your home it can prove very helpful when considering selling your house. Equity is essentially the balance between the properties worth and the mortgage balance. So for example if your home is valued at $400,000 and your mortgage is $300,000 then you are left with $100,000 in equity. This equity essentially means that you will not have to pay any extra money to list your home, and this can be a great sign it is a good time to sell. 

Lastly, you will want to pay attention to the market trends within your neighborhood and surrounding areas. If comparable homes within your neighborhood are being sold for more than they're worth then it would appear that your neighborhood has become a desirable destination, signifying a good time to sell. Make sure to keep your ear close to the ground when it comes to any potential changes in your community if you are flirting with the idea of placing your home on the market.