This is what every homeowner needs to know before deciding to sell or stay.

If you have thinking about whether or not to sell then you may have seen recent headlines stating that real estate prices are on the rise. According to Trulia, housing markets have begun to bounce back. So, if the though of selling has crossed your mind, consider these 5 things to help you:

Equity advantage

Because of the housing bust a large amount of home owners saw their home values drop and with that the equity they had also dropped.  Many even owed more than their house was worth. No one looks forward to selling at a lower price than they owe and having to bring  a check to the bank. If you’ve been waiting to sell for this reason, chances are you may have a bit more equity and hopefully walk away with some of it of you sell.

Too big for your own good

Family size can change fast and you may have outgrown your current home – the house you’re in is either way too small after that 2nd or 3rd child, or an elderly parent has moved in.  Too big for your own good You’ve grossly outgrown your current home – the house you’re in is either way too small after that 2nd or 3rd child, or an elderly parent has moved in.  If you’re in a home that’s too small for your needs, this is the time to consider the moving to something larger. Sale prices are solid and the spring selling season is here. Plus it is a great time to  take advantage of current low interest rates.

Incredible shrinking family

Or maybe your family size has decreased, maybe your oldest child has headed off college, and you’ve realized it’s time to pack up the extra bedrooms and stop cleaning all that extra square footage.  Selling now and downsizing has many perks – lower costs and less cleaning, just to name a few. Take advantage of a move that enhances your new lifestyle.

Interest rates could light a fire

Interest rates will only go up, so if you’re wondering when it would be the best time to get a good mortgage for a new home once you’ve sold your old one, the answer is NOW.  Rates are at historic lows and aren’t likely to go anywhere but north in the foreseeable future. Sell now, buy, and lock in one those low rates for the long term.

Sell when you need to, don’t chase the market

When it comes to selling advice, the bottom line is: List when you need to. If you really need to sell your current home for a specific reason, including job changes, divorce, children, health issues, marriage, etc., don’t try and chase the market in either direction.

When you sell and subsequently buy another house, there’s good news: if you’re selling low, then you’ll be buying low.  And if you’re selling high, well, then you’ll be buying high. It’s a wash.  Come to terms with the current market, and sell your home for its current fair-market value.  And when you move on, be sure to buy a house you can afford, both now and in the future!

- See more at: http://www.trulia.com/blog/how-to-know-if-you-are-ready-to-sell-your-home/?ecampaign=cnews&eurl=www.trulia.com%2Fblog%2Fhow-to-know-if-you-are-ready-to-sell-your-home%2F#sthash.CFh718Fh.dpuf