Should I Sell my House Now or Wait?

Hello buddy, even I struggled with the question of whether should I sell my house now or wait. After talking to my friend, who is into the real-estate business, I was able to gain clarity. So, let me share all the things he told me about this.

Is it Better to Sell House Now or Wait?

In general, this is a highly personal question whose answer varies based on certain factors. So, there is no straightforward yes or no answer. But, you can make out whether you should sell your property now or not by looking at the factors, such as:

• Current Market Conditions in Your Location: 

The first thing you should focus on is the present real estate situation where your house is located. In India’s tier-1 cities like Bengaluru, Mumbai, Hyderabad, etc, the growth is rapid, and you can expect a good return. But, in tier-2 and tier-3 cities, the growth is still low, and the demand is less. So, you might not see the resale value as high as that in the tier-1 cities.

• Your Needs: 

This is a personal factor which ultimately influences your selling decision. This comprises the price at which you bought the property and the resale value of your house. You can choose to sell the house based on your next step, whether you’re looking to invest somewhere and you need funds or you’re looking to sell this one to live in a new house yourself. So, first, see your next step to further finalise if you would like to sell the house now or wait. For example, if you want to buy a new house and move in, you’d want to sell the house right away. On the other hand, if you’re waiting to sell the house to get the maximum returns, you need to do proper market research on the locality, the resale value of your house and the future of properties in the area.

• Resale value:

If you see that resale value will increase in the upcoming years, it is better to wait for the best returns. But, if you feel the value is good enough, you can go ahead with the transaction. I decided to sell my property and posted an ad for free on NoBroker. I actually got a buyer without paying brokerage, so if you decide to sell, they can be visited once. This is all from my side regarding whether should I sell my house now or wait. I hope this helps. Find Verified Buyers and Sell your House at Zero Brokerage Via NoBroker Seller Plans! Some related information: What to Fix When Selling a House?