The housing market in Idaho is hot right now! Here in the Twin Falls area, many potential sellers are wondering, “Should I sell when the market is high, or should I wait for a buyer’s market?”
Even though these homeowners know that they can get top dollar for their current home right now, they’re hesitant because they don’t want to spend top dollar on their next house.
Can you relate to this dilemma? Here are our tips for deciding on the best time to sell your home.
If Your Home Value Has Skyrocketed, Consider Selling!
The #1 reason for selling is simple: your current home is no longer meeting your needs. Perhaps it’s too small for your growing family or it isn’t in your ideal neighborhood. Maybe you want to move to a more rural or more urban environment. Or maybe the maintenance in your current home is just too much and you’d like a newer property that requires less work.
If you can relate to any of these things AND the current market is high, then selling your home is likely a great idea! If you are ready to move in the near future, we would suggest getting the ball rolling so that you can still sell while your home is at its most valuable.
All that being said: if you love your home, it still meets your needs, and you want to stay there, you should probably stay. You shouldn’t sell just for the profit – it’s your home. But if you have reason to move, then act quickly and sell while the market is in your favor.
Why Selling High Makes Sense Financially
The majority of homeowners sell their property so that they can move into a bigger or better house. The great thing about selling high is that you’ll have more money to trade up! The longer you’ve been in your current home, the more equity you’ll have, and you can put that equity right into your next house.
When selling your current home, you’ll often be able to make a large down payment and get great financing on the new home. You might even be able to get a better house with the same or similar mortgage payment! Even though houses in the Twin Falls are priced high right now, you can mitigate the purchase price of your next residence by selling your current property.
Of course, you’ll still want to make sure that you don’t overshoot your budget. Don’t forget to crunch the numbers and determine what you can truly afford based on your home equity, income, and current mortgage rates.
Get Expert Guidance on the Best Time to Sell Your Home
Whether you’re ready to sell right now or you’re planning ahead for the future, make sure to have a trusted real estate agent by your side. A great realtor will always work in your best interest and give you timely advice based on the current real estate market and your personal goals.
Contact Holly Hansen, Realtor at Berkshire Hathaway HomeServices to discuss selling your home in the Twin Falls area!
Keywords: best time to sell your home, selling your home, twin falls