How do you know when it’s the right time to sell? Do you wait for a buyers’ market or a sellers’ market? Should you own majority equity on your home or does it matter? If you’re selling your home in Franklin, TN, it’s important to consider all the factors that go into it. While selling your home can be a wise real estate move in some cases, it’s also a significant life decision. Here are some top reasons that help indicate when it’s time to add your house to the list of homes for sale in Franklin.
You’ve researched Franklin real estate
The first thing you should do when considering selling your home is research the Franklin real estate market. If the market isn’t doing well – meaning there isn’t a high demand for homes in your area – then it’s best to wait.
However, current trends in Franklin are showing that residential real estate values are increasing and will continue to do so over the course of the next ten years. In a sellers’ market, there are fewer houses for sale but more buyers. That means deals are more competitive and more buyers are likely to look into your property. As the seller, you have an advantage, and real estate prices are more likely to increase.
This means you have the opportunity to get a strong return on your investment depending on when you purchased your house and how much you paid for it. Trends in Franklin are projected to favor sellers for the next few years, with homes expected to climb in value. If you’re looking to sell within the next five years, odds are you’ll be able to secure a great deal on your home.
Your family situation is changing
It’s the right time of year to sell
By contrast, January and February are the months during which it’s considered least ideal to sell. In cooler areas, people are hunkered down for the winter. You may consider waiting to list your house on the market in the late spring to the early summer seasons when more buyers are likely to be looking. However, when you work with an esteemed Franklin real estate agent like Debbie, you’ll be in great hands no matter what time of year you decide to sell.
Your home’s estimated value has gone up
Maybe you have high equity in your home, meaning you’ve paid off a good portion (or all) of your mortgage. In that case, the more of your house you actually own, the more lucrative it will be to sell. You won’t have to use as much of your earnings to pay off the rest of your loan. When the estimated value of your property has gone up to a number you prefer, it’s a great time to sell.
Mortgage rates are low.
If you’ve been on the fence about putting your house on the market, 2022 is a great time to commit to doing so. If you’re looking for an agent in the Franklin real estate market, get in touch with trusted local realtor Debbie Gregory for expert guidance.