Selling your home marks a major milestone. While determining the ideal time to sell is unique for each person and their family, there are a few common factors that may influence your decision. As you think about the optimal time to sell, consider how these five occasions may present the opportunity you’ve been waiting for.
- Your family is changing
Take Chris Costas and his wife, who recently expanded their family with a 10-month-old baby and decided it was time to upgrade their home. Noticing high demand for homes in their neighborhood, the family saw the opportunity to sell. However, while Chris and his wife received an offer quickly, it fell through—leading them to Opendoor.
“We were on the cusp of making a big change, and Opendoor saved us from the stress we experienced early on with the traditional process,” Chris explained. “Not only did they make a competitive, certain offer, but they provided us peace of mind with a seamless, fully digital experience. With a baby at home, we also loved the flexible checkout date and not having to navigate showing our home!”
- It’s time for a change of scenery
The pandemic introduced new priorities and preferences when it comes to home location—and according to Opendoor’s 2022 report, The New Normal, reasons for moving vary by generation.
Millennials and Gen X say moving to a newer or bigger home that’s closer to a specific school district is a top motivator. For Baby Boomers, downsizing and moving closer to family or friends drives their decision. Across groups, the opportunity to work remotely is also influencing where people put down roots. If location-based factors influence your interest, it may be time to put your home on the market.
- You’re taking charge of your finances
For many homeowners, their home is their largest asset—meaning it plays a critical role in their financial portfolio and retirement planning. Keshia, a licensed realtor and property manager, wanted to sell her home to help pay off her debts. Initially exhausted by the thought of tackling home repairs and prepping her home to sell, she was thrilled to discover that Opendoor would handle the entire process for her.
“I couldn’t believe how seamless and quick the tech-driven process with Opendoor was,” she gushed. “I’m in the industry, and am happy to share that my experience with the local team was fantastic!”
- You’ve reached peak appreciation and it’s time for a new chapter
After enjoying your home to its full extent or seeing significant appreciation in value, you may feel ready to try something new. According to Opendoor’s survey with OnePoll, Millennials and Gen X sellers are motivated by upgrading to a newer or bigger home, or one that is closer to a specific school district.
A new home presents the opportunity to revisit your needs as a homeowner—and thanks to value appreciation, you can afford to make it happen.
- It’s a strong seller’s market
Similar to your own life stages, the housing market fluctuates over time. Kerry Melcher, Head of Real Estate at Opendoor, shares three ways to identify a seller’s market:
- “For Sale” signs are few and far between, which indicate that housing inventory is low and demand is high.
- Homes are getting scooped up quickly.
- Homes are being listed for higher-than-usual prices.
No matter your motivation for selling your home, you want to have the tools, knowledge, and support in your corner to strike when the iron is hot. Visit Opendoor.com to learn more about selling your home today.