The 5-Year Itch: Is It Time To Sell Your West Knoxville Home?
The 5-year itch can creep in slowly. Many times, homeowners don’t even realize the telltale signs until they’re deeply entrenched in 5-year itch hysteria.
All of a sudden everything about your beloved home is driving you nuts. Your home is too small or too big. It feels like there’s just not enough space for all of your belongings and family members are living on top of one another. Or, your home is unbearably large that the thought of maintenance and cleaning makes you cringe.
The 5-year itch may not hit you at 5 years. It could hit you at year 7, 10, 12 or 20. It’s the overall moment where it hits you and you find yourself wondering: is it time to sell my West Knoxville home?
Telltale Sign #1: You Feel Like You’re Living In A Clown Car
Does your home feel more like living in a clown car than an actual home? Or, do you feel like you’re living in a fortress that is much too large? When you outgrow your home or your home suddenly becomes too large, you will feel the effects first.
There are times where your housing needs will change. A small two-bedroom condo may be great for newlyweds, but when you’re thinking about having kids, that space could become altogether too small. In contrast, a home can become too large when your kids move out. You’ll no longer have the need for a 5 bedroom house. All of a sudden it can become a burden to maintain a home of that size.
When the size of your home no longer fits your lifestyle, it can be time to move on.
Telltale Sign #2: You Find Yourself Keeping Up With The Real Estate Market
Does the thought of profiting from selling your home in a seller’s market sound tempting? When you find yourself keeping up with a seller’s market and thinking about how you could profit, that may be a sign that you’re ready to sell your West Knoxville home.
There are many times where sellers find themselves watching the market without even really realizing it. You may be keeping up with the homes that are selling in your neighborhood and wondering if you could sell your home for the same or better.
The truth is: selling in a seller’s market is ideal. If you’re in a situation where you could stand to profit from selling your home, it may not be a bad time to sell. While you may love your current home, you may be getting the itch to buy something different. Selling in a seller’s market can make the timing idea if you can stand to profit.
Telltale Sign #3: You’re Ready For A Change
Sometimes the biggest sign that you’re ready to sell your home is that you’re simply ready for a change. The house that you bought 5 years ago may no longer fit your lifestyle or may not have everything you’re looking for. When this is the case, it can sometimes be a sign that you’re ready to sell your home.
When you’re ready to move on from the home you bought 5 years ago, there’s nothing wrong with buying a home that better fits your needs. You may want a home with a bit more space, a bonus room, a larger backyard, or in a different location.
Lives have a way of changing. The home you bought in your 20s may not be suited for your lifestyle 5 or 10 years later.
Telltale Sign #4: Your Home Budget Has Changed Significantly
Finances have a way of changing over the years. Since you bought your home, your finances could have changed significantly. You could be making more money or you could be making less money. Either way, your mortgage budget could have changed significantly.
When your mortgage has become a burden, this is most particularly true. If every month when you pay your bills you cringe at the thought of how much you’re putting towards your mortgage, it may be time for a change. In the time since you bought your home, you may have changed jobs, retired, or gone down to a one income household. Regardless, if your mortgage has become a burden, it may be time to make a change.
Alternatively, you may be making more money than when you first bought your home. You may have gotten a raise at work or become a two-income household, regardless, you may have the desire to spend a bit more on a home. Sometimes when you can afford more home, you may have a desire to upgrade your home. Instead of living in your starter home, you may want to upgrade to a home with some more space and amenities.
Bottom Line: When To Sell Is Largely Personal
Deciding to sell your home is a large decision. It’s not something you just wake up one day and decide to do. If your living situation needs to change for one or more reasons, it may be time to consider selling your home.
Oftentimes, before you decide to sell your home, you probably want to figure out how much your home will sell for and what the process is like. Consider talking with a few realtors to get the answers you need about the process. You will feel more at ease once you have the answers that you need.
Is it time to move on to another home? Are you bursting out of your current home? Or, is it time to move into something a bit smaller? Regardless, it can be hard to know where to start when it comes to selling your home.
Give us a call today. Rick can be contacted at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Kati can be contacted at 865-696-1888 or via email at Kati@KnoxvilleHomeTeam.Com. Contact us today for your FREE Knoxville Home Valuation.