Knowing When to Sell Your Home

Whether scaling up or downsizing, selling your home in order to buy a new property can be daunting. Before taking that step, here are three important factors to consider:

Your reasons for selling

In many cases, selling your home for practical reasons, either to scale up because your family needs more room to grow or downsizing when your family have grown older and flown the nest. For some, it boils down to location needs, such as needing to move to where a good school is or closer to work for less commuting time. If you love your home then it can be a very difficult decision to make, so consider all the alternative possible options before taking that drastic step of selling. For example, if you are considering the move due to the need for more space, look into remodeling your home or renovating your loft, basement, or garage instead.  Remodeling or renovating could give you that extra space you crave, without the need to up sticks and move. There are many companies who can provide you with a free quotation on renovations and remodeling, so it could be worthwhile to check out that alternative first.

The best time to sell

Studies have shown that the most productive season for selling your home is spring. In the spring season, buyers are more relaxed and comfortable, as viewing properties during clement weather is preferable over harsh and cold winters or sweltering summers. Spring is also when tax rebates are in the bank, so buyers have more financial buying power and you will have a lot more viewers during this period. The downside is competition, as spring is peak selling time, with a lot of houses on the market competing for a sale with yours. So make sure your home is clean and presentable to help its salability.

Financial

Consider the current market to decide if it makes sense to sell. If it's a buyers' market, you won't be able to ask for too high a buying price. If you are scaling up, consider if the market is good for you and what the effect a larger, more expensive property will have on your income. A larger property may seem like a good idea until you work out the financial outlay. Use a mortgage calculator to help work out what you can realistically afford. A search online for the best mortgage calculator will turn up many results, of which most are free.  So take advantage of this tool to help you plan ahead.

If you do decide to sell, make sure you check out all the different remortgaging options available, as you may find a better deal than your existing mortgage. Find out what the best mortgage refinance company is for your current situation, what your best refinance mortgage rate could be, as well as the best mortgage loans available. Have a search online or look in the local paper to find out what banks and loan companies are offering, as you may find yourself financially much better off if you change over to a different mortgage.

You can now save thousands of money per month by refinancing. This can be done if you get good guidance from the best mortgage refinance company in town. Click here to know the best refinancing option for you.