The decistion to put your home on the market should never be done hastely but at the same time should not be dragged out either. With economic uncertainy and rising mortgage rates this makes potential home owners flip flop in deciding to list their home.
There's no set formula to decide if you're ready to list or not but there are at least four signs that hint that it may be time;
1. You Have a Game Plan: A serious seller typically has an idea where their next home is going to be located and what type of home they want. Generally having a game plan where and what your replacement home will be, will be a motivating factor to most home sellers. Because of this general idea what home your next neighborhood is going to be in, this should give you an estimated price of how much home you can afford. You don't want to find yourself in a situation where you sell your home and can't afford the new one. or you can't secure the loan because you don't have a large enough down payment.
2. You're No Longer Emotionally Attached to the Home: If you have ANY emotions about the home then you're really not ready to sell says most experts and I agree. If you're finding yourself still connected to the home then you're not going to listen to your agent and do what it takes to sell. A seller has to view the home as a product and not as "their" home.
3. You are Financially Ready to Make the Leap: Some say that this is the first sign a homeowner is ready to sell. They are financially ready. Evaluate and determine that you are financially ready for the costs associated with purchasing a new home. Take into account the down payment, closing costs and moving expenses.
4. You are Ready to Make Changes: A seller who is still emotionally attached to a home will more than likely resist major changes or upgrades which could affect the price and quick sale of the home. A seller should invest the time and energy to do a little renovating from time to time to get the best price in the quickest time.