If you’ve found yourself in a financial bind, if you’re no longer happy with the neighborhood, or if you’re facing some job or family changes, selling your house might be the next step for you. Below are some of the reasons it might be time to put out the for sale board.
**Your Family is Growing (Or Shrinking)**If you’re about to have your first child or adding to the family further, or perhaps your older ‘children’ are flying the nest, it might be time to sell the house. Use the profits to buy a larger property to fit your expanding family or, if you’re becoming an empty-nester, downsize and put the sale proceeds straight toward retirement or even another smaller investment property!
You’re Not Happy with Your LocationHas traffic gotten bad in your area? Is there lots of construction delaying your morning commute? Or maybe you’re just in need of a change of scenery - If so, selling your house might be the best move. Spend some time researching other communities and hop in the car and explore each one with the family. Be sure to take into account school locations, commutes to work, road access and other factors before you opt to buy your next property.
You Need More Cash Flow
One of the biggest perks of homeownership is that you build equity — equity you can turn to when times get tough. Did you lose your job and have no way to pay the bills? Are you facing an unexpected expense? Your home might be the key to staying afloat during financial hardship. Sell it and use the proceeds to keep your head above water until you land back on your feet.
The Market is Hot
Finally, you might want to think about selling if your local real estate market is hot like it is here in Dubai at the minute. If homes are selling often and quickly in your area, it means demand is high. And when demand is high, higher property prices follow. That’s an opportunity to increase your return on investment and really bring in some profits. Use them to boost your retirement savings or buy a larger move-up property instead. Either way, you win.
You just want a change
Sometimes, life and circumstances change but sometimes it’s as simple as changing your mind! There may be a new development that’s caught your eye or you’ve visited a friend and left their home with green envy which has left you picking apart your own home. This will prompt you to take a look at your own finances, the worth of your property and what you can afford in different communities.