When is the RIGHT time to Sell and Buy your next home?

The “right time” to sell, buy, or move to your next home – is a very personal decision and typically has little to do with the actual real estate market. The right time to sell, buy, and move, is when it fits you and your needs best. In this video, I’ll share how to decide when is the best time for you and how to start making plans to be ready.

No one can predict the real estate market perfectly.  Most shifts in the real estate market are recognized about 3 to 6  months after they actually occur.  So -the first step to any real estate move is to STAY CALM AND PLAN.  By identifying your goals and planning your move you will find no matter what the market is doing, you will be ready for it.

Here are a few planning steps to consider:

• First – Decide when is the best time to move. – Do you have big projects at work wrapping up at a certain time? Or maybe a slower season? Should the move be planned around the school year during breaks or over the summer?  When is your next vacation planned? Target a couple of time periods over the next 6 months to a year that are ideal.  In general, planning to sell ,buy, and move can be a 3-6 month process.

•Next – Create your top 10 list of wants and needs as well as the PROS and CONS  regarding the move.  Making a list will help you become real clear on what you want and why you want it!  It will help you plan for the compromises that almost always occur. Take the time to involve those who will be impacted by this decision.  This can be just you, your spouse, your significant other, your kids, your extended family, your friends, and even pets! This way you know the pressure points up front.

•Now – Start working on a total budget for this move.  This is not necessarily about the actual sales and purchase dollars related to the transaction but more about the costs involved around the move itself. If this move is not in the city you currently reside in, look at the difference in local and state taxes, resource-closing costs typical for the area, and of course the general cost of living. Utilizing tools online can help you estimate moving costs.  Don’t forget to budget for work potentially needed to prepare your home for sale like painting and small repairs, as well as move-in work that may be necessary for the new home.

That will be enough to get you started. Remember, the right time for you to sell, buy, and move should be determined by your wants and needs not by anything else.   Ready for the next step? Watch the next video in this series titled  “Preparing for Your Move!”