Five signs it's time to consider selling your home

Nancy Schrimpf, Coldwell Banker Village Properties

Special to the Village News

Our homes hold more than just our furniture, they hold our hearts. So it is entirely understandable that sometimes we don't want to sell a property, even if we know on some level that we must. How can you tell if it is time for you to seriously consider selling?

The people you love are too far away

I am working with some clients who are selling their home of 30 years. That's not an easy thing to do. When I asked them the reason for the transition, however, it all made sense. The home they raised their family in, the home that housed hundreds of holidays and millions of memories, is in Chicago. Their adult children are here on the West Coast. Memories are precious, but people are more so. If the people you love are too far away, it may be time to consider selling.

Your family has gotten smaller

Maybe you bought your huge, rambling home on the large lot when you had five kids at home and now the nest is empty. If you love the space, the area, and yard work, stay where you are. But you may be surprised how much more freedom you can find in downsizing. Time is finite and housework and yard work should only eat up a share of yours, unless you just love it.

There are a lot more of you than there used to be. I know of a family that couldn't break the connection they had with their existing home, despite the fact that a brother and a sister had to share a single, small room. If this is a family need, so be it. But if it is a family choice, and the children are approaching adolescence, reconsider.

You are house poor

Life is stressful and full of all kinds of needs and wants. If your home represents too large a portion of your budget, think about the things that would change for the better if your mortgage weren't so oppressive and carefully evaluate whether a less expensive home might improve your quality of life.

School days are here

There is no immediate and obvious economic advantage to sending your kids to private school. Moving to a great school district, though, brings not only a higher likely resale value but perhaps some financial advantages via a higher mortgage (always consult with a tax specialist before making decisions of this type). If you are thinking of spending tens of thousands of dollars to send your kids to a private school strictly for academic reasons, check and see if you can move to a better school district for less.

Clearly, this list isn't meant to be exhaustive. People move for more reasons than I have bullet points: to be in warmer climates, for better job opportunities, to be closer to fine medical care, to be further into the wilderness, because their neighbor just opened a kennel and more. And there may be just as many reasons for you to stay put just where you are.

If you haven't been open to the idea of selling your home, but life feels off-kilter, check and see if anything on this list resonates with you. If it does, call a Realtor and explore whether it is time to change the home that holds your heart.

Questions may be directed to Coldwell Banker Village Properties at (760) 728-8000 or Nancy Schrimpf directly at (760) 717-2307.