The current housing market, especially here in Utah, is expanding quickly. If you are looking to buy, you probably know that you have to make an offer quickly in order to try to get a house. If you’re selling, it’s your market. The cost of homes is quickly rising. So, when do you know when it’s the right time to sell your house?
Remember what the cost of homes is as a buyer
Yes, if you were to try to sell your house right now you would most likely make a pretty good profit on it. However, that would leave you in a spot where you are also needing to buy a house. So, the cost for you to buy a house will be significantly more than it would’ve been a few years ago. Unless you are currently looking to downsize or move out of the state, it may not be a smart move to put your house up for sale yet.
Do you like fixer uppers?
One great reason to buy or sell right now, is if you are someone who loves a project and wants to have a fixer upper to flip. If your goal is to buy an older home right now, fix it up, and then sell it in a few years, then now is probably a great time, because the value of that home will increase so much over just the next few years if you’re able to fix it up.
If the offer is right
If you live in a quickly developing city, it’s possible you have had unsolicited offers on your home. These offers always come out of the blue and it makes you consider selling, even if you weren’t planning on it. But if you were able to get an incredible offer on your house that would allow you to make a move you’ve been wanting to make, then maybe now is the right time to sell!
If you’re considering selling, we would recommend talking to your realtor first. They will have more insight into what the market looks like, how much you could get for your home, as well as what it would look like to buy another home. They will be able to advise you on whether or not it’s a good idea, and when to move forward with your home sale!