When Selling a House Actually Makes Sense

Selling a house is an emotional process, and it’s easy to get caught up in the moment. Sometimes it’s hard to see things objectively, especially when you’re attached to your home. When selling a house actually makes sense, you need to consider your circumstances, your interest in moving, and the current housing market. If you plan ahead of time, finding out how much equity you have in your home early on can help you get more for it when you put it up for sale. There are various other reasons why you may want to sell your house:

  • You’re about to be unemployed and need additional money for expenses
  • You’ve suffered a major financial setback (e.g., job loss, divorce), or you can no longer afford the mortgage payments
  • You really want to move into your dream home, which is bigger than your current home
  • You don’t want to worry about the costs associated with selling a house (e.g., hiring an agent, closing costs), or you can afford to pay all of these expenses yourself
  • Your neighborhood is not the best it could be, and you don’t want your children exposed to violence, drugs, or crime
  • You’re tired of the responsibilities that come with owning a house (e.g., yard work, repairs)
  • There are several other reasons because of which you might want to sell your house. Let’s go through it in further depth below.

You’ve Outgrown Your Home

Maybe you had children, and now they’re off to college, or perhaps your family is starting to grow beyond its current size. Either way, you might find that after some time has passed, your house just isn’t the right fit for them anymore. When this happens, it can be more costly than you think to make your home larger and even more expensive to add a room to it. In this case, selling your house can actually save you money in the long run by helping you find a new home that’s bigger or with a separate suite for when family members come to visit.

Maybe your family is just starting out, or maybe you’re a couple who has decided to take in a roommate. In this case, also, it can make sense to sell your home and move into a bigger place that’s more suited to the size of your household. This way, everyone in the household will have enough room to spread out and enough privacy.

Also See: Moving to Bigger House

You’ve Hit a Financial Crisis

If you’ve been serving as a caretaker for an elderly family member or if there’s been a serious illness in the home, these circumstances can drive up the cost of maintaining your house and possibly cause damage to it that needs repairs. It might be time to sell if you find that you can no longer afford the upkeep or if it’s putting a strain on your family.

Some other circumstances are maybe you were laid off, or your hours at work were cut back. Or perhaps you’re facing some other financial problem that’s acute enough that it has caused payment problems for your family. Whatever the case may be, if you find yourself missing payments on your house and you don’t see the problem getting better, one solution is to sell your house and move into a smaller place. When you’re behind on payments instead of just waiting around for foreclosure proceedings to start, selling could help you avoid losing your home entirely and lower the amount that you’ll have to pay in penalties if it does happen.

You’re Relocating

Sometimes, circumstances can force you to relocate. Whether it’s because of work or family, there are times when selling your house makes sense, even if it isn’t on the market. Maybe you need to move closer to your business office for easier travel, or maybe your new spouse has already found a residence in another city that’s what’s best for everyone. In either case, you’ll need to sell your house regardless of whether or not it’s been put on the market. Even if you’re not planning to move anytime soon, selling now can help you avoid wasting money on maintaining a home that doesn’t have any equity in it and isn’t going to give you a return on your investment.

Also See: Home Equity Line of Credit

Finding a Job Elsewhere

Maybe your job is moving away, and you don’t want to uproot your family. Or maybe the company has decided to consolidate and move your office to another state. Whatever the case may be, selling your house can actually help you because it makes it easier for you to say goodbye to familiar surroundings and start a new chapter in your life. If you’re faced with this situation, selling might just be the best option available.

It might seem like a good idea to wait and see what happens with the economy, but in reality, waiting until you need to sell can make it difficult and more expensive to do so. By planning ahead and preparing for the possibility of moving, you’ll be able to make wiser decisions about your home and your family’s future when selling a house actually makes sense.

See Also: Cities for Job Seekers

Maybe You’ve Been Thinking About an Upgrade

Maybe you’ve been in your house for a long time, and it’s starting to show some wear and tear. Or maybe the neighborhood has gentrified, and you feel like your home is out of place now. If you’re looking at moving anyway, selling before buying can help you lock in a sale and help you negotiate a better price on your new home. After all, if you can’t sell your house for what it’s worth, how much of an upgrade do you really expect to get?

When You Already Have a Prospective and Viable Buyer

Sometimes, before you’ve even put your property on the market, you may discover a prospective buyer. If that potential buyer is ready to buy now, selling before your home even goes on the market can save you time and money. After all, you won’t have to pay extra fees for advertising or staging your home, and you’ll be able to close more quickly.

Selling before the market rebounds might seem like a bad idea, but in reality, it can save you a great deal of time and money when the occasion arises when selling a house actually makes sense. If you can find a buyer who is ready to make a deal, there’s no reason not to go for it.

You Don’t Have Enough Time To Take Care Of Your Property

Whether it’s because you’re working too many hours, going back to school, taking care of an elderly loved one, experiencing a family illness, or even if you just find yourself busier than ever, there are times when you just can’t take care of your property. And if that is the case, selling might be the best option for you. By selling now, even if it isn’t planned or marketable, you’ll be able to free up some time and get a substantial return on your investment in a relatively short amount of time.

And if you sell your home without it being on the market, you may actually get more than what your property is worth. This way, if the market rebounds within a year or so, you’ll be able to reinvest that money into something even better for your family. When selling a house actually makes sense, weighing your options carefully can help you make the best decision.

It might not be your dream outcome, but that doesn’t mean that selling a house actually isn’t the right choice. By thinking about your options ahead of time and preparing yourself for what’s to come, you’ll be able to make smarter decisions when it comes time to sell your house. After all, if you do your research and plan ahead, there’s no reason why selling a house actually can’t make sense.

Also Read: Tips to Sell Home for First Time | Selling Your House? What to Leave for the Buyers at Closing

Conclusion

Selling a house doesn’t have to be a stressful or difficult process. By understanding when selling a house actually makes sense, you’ll be able to make the best decision for your family and your future. Keep in mind that there are many different reasons why selling might be the best option for you, so take some time to evaluate your specific situation before making any decisions.

With careful planning, you can ensure that the selling process goes as smoothly as possible. By thinking about your options before it’s too late, you’ll be able to make wiser choices when selling a house actually makes sense for you and your family. Selling a house doesn’t have to be an overwhelming or stressful experience. If you’re prepared and know what you’re doing, selling a house doesn’t have to be difficult. Use this article as a guide to help you successfully navigate the entire process.

Frequently Asked Questions

What are the most important things to do when selling your house?

The most important things to do when selling your house are:

  • Deep cleaning.
  • Discarding unused furniture or things.
  • Painting the whole house.
  • Doing the required repairing work.

When is it a bad idea to sell my house?

If you are not ready for the sale, either financially or emotionally, don’t try selling your home. If you are not ready for this change in your life, please do not move out.

When selling a house actually makes sense, what should I think about some things?

Think about the time it will take to sell your home and how much money you can get out of it. You should also consider if you have enough time to take care of the property while trying to sell it and if you should sell it without putting it on the market.

Written by


Rostislav Shetman is the founder of 9Kilo Moving. He has been in the moving and relocation industry for more than 25 years, making him an expert in his field. Rostislav started as a helper, dispatcher and driver and has worked his way up to owning his own company. He takes great pride in his work and enjoys helping people relocate across the United States of America. When he's not working, Rostislav enjoys spending time with his family and friends. They are the light of his life and bring him happiness every day.