Should I Sell My House? Reasons to Sell (or Wait)

The housing market has been super-heated in recent years, and although the rise in home prices has cooled slightly in early 2025, they continue to be high. But a slight dip in mortgage costs has some buyers venturing back into the market.

You may be wondering if this is the year to sell your home, or would it be wise to wait another year or two? That’s not a simple yes/no decision. A variety of factors come into play when making a big lifestyle and financial move like this one.

Here, we’ll provide guidance on how to size up the pros and cons of selling now, including:

•   What is the housing market like in 2025?

•   What are good reasons to sell your house?

•   What are good reasons to wait to sell your house?

•   Should I sell my house now or wait? If so, what are selling tips?

•   Should I buy a house in 2025?

Examining the Housing Market in 2025

The coronavirus pandemic brought an unprecedented demand for housing as many people became less tethered to the workplace and needed houses that would accommodate the shift to working from home. The housing market heated up, and it really hasn’t let up since.

After a dip between 2020 and 2023, mortgage rates have climbed. Today, home prices are high and 30-year fixed mortgage rates, though they have dropped a bit, are persistently in the high 6.00% range.

What does that mean for the housing market in 2025? It’s not exactly a seller’s market, but if you choose to put your home up for sale, you might be able to command a good price. If you’re selling so you can buy another house, there’s more to dig into than local market conditions in order to answer the question, “Should I sell my house now?” Let’s look at the pros and cons.


💡 Quick Tip: An online property tracker can help you monitor your home equity over time. That’s important for understanding your net worth and finding sufficient insurance protection.

3 Reasons to Sell Your House

Now could be the smartest time to sell your house, depending on your specific situation. Here are some compelling reasons to sell your house in 2025.

Reason #1: Your House Is Worth More Now

Housing prices have climbed pretty steadily upward over the last decade. Unless you purchased recently, your home has likely gained in value. No one can say what the future holds for house prices, so selling could allow you to hedge your bets.

If you take a look at how much equity you have in your home and find that you are sitting pretty, it could be a great time to cash out and buy something else, especially if you are downsizing. Or if you know you will want to sell within the next year or two, it might be wise to make a move now since property values may slip lower in the near future.

Recommended: How Much Is My House Worth?

Reason #2: A Few Minor Repairs Could Increase Value

Even if your home is already worth more than in the past, you can get even more value out of it if you make common home repairs like touching up the exterior paint or refreshing the landscaping. A fresh coat of paint can make your place all the more appealing if you put it on the market, and is more cost-efficient than doing a major renovation such as updating a kitchen or baths.

Reason #3: Houses Are Selling Fast

In 2025, the median time a home is on the market in the U.S. is 51 days, according to Fred Economic Data. By comparison, homes were typically on the market for 83 days in 2023 and 61 days in 2024. Check your local housing market on a real estate site such as Redfin. If the market is listed as competitive, and home prices or the price per square foot have risen in recent years, this could be a good time to sell. Just remember, if homes are moving fast, you should be ready to move. Explore different types of mortgage loans and dive into the market for your next place so you’ll have a home and a home loan teed up when you sell.

3 Reasons You Should Wait to Sell Your House

While there are some great reasons to sell your home right now, it may not be the right time to sell for everyone. Here’s why you might want to wait.

Reason #1: You Can’t Afford to Buy

Selling and walking away with a nice profit is great…but not so great if you need to buy another house, especially if you’re staying in the same area. Buying a house may be cost-prohibitive for you, especially when you factor in closing costs on top of the inflated pricing.

Also, there’s no avoiding the fact that it is still somewhat costly to borrow money. As of late-June 2025, the average mortgage rate for a 30-year fixed-rate mortgage was 6.77% versus 5.70% in late June of 2022.

That said, if you live in an expensive area, you could sell your home and move to a more affordable state. Or you might look into different mortgage loan products and options (for instance, buying down your rate by paying points) to make a move less cost-prohibitive. Another option? Consider renting a home instead of buying for a while. A buy-or-rent quiz could help you make that decision.

Recommended: The Cost of Living in the U.S.

Reason #2: You Owe More Than You Could Sell For

If you are upside-down on your mortgage payments though, selling won’t provide a solution. Perhaps you took out a second mortgage or not have paid enough on your first mortgage to recoup the expense by selling, even at a higher price. That means you would still owe money on a house you no longer live in after selling.

If this is the case, it may be better to build equity over time before selling.

Reason #3: You’re Not Ready to Make Home Repairs

While making home repairs before selling could help you get a higher price for your home, that doesn’t necessarily mean you have $30,000 lying around to make those improvements. If you know that certain repairs would help you get more for your house but you can’t afford to make them right now, it may be better to wait to sell a house until you can afford to invest in those home improvements.

Tips for Selling (and Buying) a Home

Before coming up with your own answer to the question of “Should I sell my house,” consider these points:

•   Figure out how much you can afford to pay to buy another. You could get prequalified for a mortgage to gain an understanding of your budget. If you can only afford a house that’s smaller than your current one, or in a neighborhood you don’t want to live in, there’s not much point in selling only to end up worse off.

•   Look at comparables to understand market trends and how much homes are selling for in your neighborhood. Go to open houses to see what sort of updates and features sellers are offering so you have an idea of what to do to get your own house ready for sale.

•   Contemplate being represented by a real estate agent or doing it yourself. There are some great DIY sites that can cut down on the fees you pay to sell, but you will probably have to invest time, effort, and cash into marketing your property.

For instance, if you’re selling your house on your own, invest in professional photos rather than taking your own, and get the house staged (that means more than just removing all the toys and dog beds before a showing!). The better you present your home, the better the price you can command.

•   Remain patient if you’re also buying. It can feel frustrating to be outbid for what seems like the house of your dreams, but it can be a reality right now. Don’t force a decision — the right house will find you.

The Takeaway

Selling your house this year could be a smart financial decision, but it’s important to make sure you’re looking at the bigger picture with your finances. Consider the pros and cons of selling in today’s market. Think about where you plan to live when you leave your current home and run the numbers on those costs on the down payment and the new mortgage. Explore rates and terms with different lenders to get a feel for the market.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

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FAQ

Should I rent my house or sell it?

Whether you should sell or rent your home comes down to your local market and your financial goals. If the rental market is healthy in your area and you can make a profit from renting, this could be a good choice as long as you are willing to shoulder the burden of managing a rental. Another reason to rent could be that the home sale market in your area is depressed and waiting to sell might increase your profit. If homes are selling briskly in your area and you don’t want to manage a rental, or if you need the funds from the sale of the house to fund your next home purchase, it’s time to sell.

Should I sell my house as is or fix it up?

So long as there is nothing catastrophic happening with your house (a leaky roof, cracked pipes, for example), it’s probably best to just go ahead and put the property on the market vs. fixing it up first. Make sure it’s clean and tidy for showings, but don’t worry about updating a kitchen or bath or doing other big fixes. Renovations can be expensive and time-consuming. Just be prepared for a potential buyer to ask for price concessions for any significant issues.

Is renting more profitable than selling?

Whether renting or selling your home is more profitable depends in large part on your local real estate market. The real issue may be: Do you want to take the income all at once (in which case, you should sell) or are you comfortable with a passive income drip from renting? It might take many years for your rental income to equal the income you would garner from selling. Are you willing to wait and game to manage a rental in the meantime? Remember, too, that rental income is taxed, while a certain portion of the capital gains from selling a home are protected from federal taxes. Consider talking to a tax expert before deciding.

Is renting really throwing money away?

Renting is not throwing money away — after all, you’re getting a place to live in the transaction. Moreover, if renting allows you to pay down debt, move around for work, or wait out a hot housing market until prices cool, it’s a particularly good investment.

Can I sell my house and still live in it rent-free?

It may be possible to sell your house and live there rent-free — if you can come to an agreement with whoever purchases your property. Some buyers might allow you to stay rent-free for a brief time while you close on your next home purchase. It’s also possible to negotiate a sale-leaseback agreement so that you can stay longer in your home while paying rent. A third option for those age 62 and over is a home equity conversion mortgage: You stay in your home but begin to draw down funds based on your equity. After your passing, your heirs settle the property’s sale.

How long can you stay in your house after selling?

How long you can stay in your home after selling it depends on the arrangement you are able to make with the new owners. A written agreement detailing the terms should be part of the negotiations around the sale.

What are two advantages of renting?

Renting a home can allow you to explore a city or neighborhood before committing to it. It also relieves you of the burden of maintaining a property. Renting may also allow would-be homebuyers to shore up their credit score or save for a down payment purchasing a home. In some markets, renting is significantly less expensive than owning. These are just some of the advantages of renting vs. buying a home.

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Photo credit: iStock/AlexSecret

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