When is the best time to HOLD ON or LET GO of YOUR PROPERTY?
When we are young, we so easily know when to hold on and when to let go. I can remember when my youngest son was a baby, he would stand up and hold onto the side of his crib playing and then rather suddenly he knew exactly the right moment to let go of the crib railing and lower his body down and fall into a deep sleep.
There was little fear or thinking, we simply did what was right for ourselves in the moment.
As adults we sometimes suppress our inner wisdom that knows when is the right time to hold on in life and when to let go. I can remember in my earlier career as a yoga instructor trying to help my students “unlearn” working from their minds and instead learn to listen to their silent voice that knows exactly when to hold onto a yoga pose and when it is time to let go and relax.
Lately, I have been working with a lot of female clients going through divorce and once again in my career I find myself standing by my clients while they decide to let go of their old home and marriage and come into a new home and new life. As an agent with a brokerage firm in #SeaportBoston, I welcome clients who are beginning this process of knowing when to hold on and when to let go of their home. As your potential listing agent my main focus is to help guide you into your own knowing of when is the best time for you, because I believe only you know what is truly best for you given the entirety of your situation.
However your home is your investment so there are a few indicators that I advise my clients to look at when contemplating letting go and selling their property.
Know what you need to make on your current home and compare it to the comps in your neighborhood. Comps are what we in the real estate business refer to as the most recent home sales in your neighborhood. Comps (comparables) have similar square footage and number of beds and baths as your home. This is also what your future buyer’s bank lenders will base your home’s appraisal on. If the comps are at what you need to make or higher this may be a strong indicator that it is the right time to sell.
The second factor that I recommend my clients do is: Take the time to have an idea of where you are going and make sure you get what is called prequalified for a new loan in the amount of the comps in that neighborhood. The reason I recommend you do this is so you have clear picture of your total investment and all of your transactions. This helps to ensure you will buy and sell with financial success and make the right move for you in your life.
If you have read this far you must be contemplating making a move to let go or hold on to your home. Please know that I would be happy to create a list of comps for you… both for your current home and also for your potential future neighborhood, and at no cost or obligation. The sooner you have this information on hand the easier and wiser you will be in deciding if and when you are ready to let go of the old and embrace the new!