If you sold your home at a good price, you’d be thrilled, right? But what if, a year or two later, you check in on your old home by idly punching your former address into realtor.com … and discover that its value has shot up even higher? In other words, had you only held onto this property a little longer, you could have made a real killing?
Welcome to home seller’s remorse—a rampant affliction among home sellers across the country. It can hit at any point after a home sale, where, akin to tossing a winning lottery ticket, home sellers torture themselves with fears that they’ve sold their home too soon, thus losing out on tens of thousands of dollars. Home seller’s remorse can even kick in before a sale, stressing out homeowners who are thinking of selling but are worrying that they could be pulling the trigger too early … and missing out on the windfall their home could become.
Sound painfully familiar? In the strong seller’s market we have now, where prices are rising across the country, it’s understandable.
“Sellers tend to think that if they just wait a little longer, they can sell for more,” says Boris Sharapan Fabrikant, a real estate agent at Triplemint in New York. (Of course, he adds, the same is true of buyers: “They tend to think they could have bought for less earlier.”)
Yet real estate experts insist that home sellers should stop second-guessing themselves and make peace with when they sell, and for how much. Here are some reasons you should never worry whether you’re selling your home too soon.
Reason 1: Just as with stocks, you can’t time the housing market
Have you ever heard how you can’t time the stock market? Pretty much the same thing goes for selling a house. Clairvoyant powers or a fully functional Magic-8 ball would be needed to know exactly what…