Just because real estate prices are on the rise doesn't mean that you should put your home on the market right now.
Selling your home is an important decision that needs a lot of thinking. To make sure that you don't pull the trigger at the wrong time, here are 5 crucial considerations according to Trulia:
Equity advantage
The housing bust caused many homeowners to see their equity evaporate with the drop of home values. In fact, many owed more than their houses were worth. Would you think about selling your home if it means writing a check to the bank or listing as a short sale? If this is what you've been waiting for to finally sell your home, then this could mean that you now have more positive equity in your home.
Too big for your own good
If your current home is no longer the ideal space that you need for your current needs (welcoming a third child, or a parent moving in), then you should definitely consider jumping to something a bit larger. Take advantage of the current interest rates before they again begin to go up.
Incredible shrinking family
Your oldest child just headed off to college and you now have that extra bedroom and want to ditch all that square footage. Selling and downsizing could mean lower operating costs and less cleaning and maintenance.
Interest rates could light a fire
There is no best time to get a mortgage rate for a new home after you sold your old one. Interest rates are only going higher which means that the right time is NOW.
Sell when you need to, don't chase the market
One of the most important considerations when selling your home is the answer to the question: Are you ready? If you aren't, then don't commit the common mistake of rushing it. Only list when you need to and not because you are trying to chase the market.
