Selling your home is both an emotional and financial commitment. So how do you know when the right time to sell is? Here are five key signs that it's time to sell.

One | You've outgrown your home
Your home may have been perfect when you moved in, but it no longer suits your needs. Whether your family simply needs more space or you now have an empty nest and it's time to downsize, your home simply doesn't fit you the way it used to.

Two | Location
Your commute to work is getting longer, the kids' school is further away, or the area isn't offering the amenities you want. The need for a new location is a common motivator to sell. Whether it's lifestyle, work or family, your area may not be offering everything you need, and it's time for a change in scenery.

Three | Financial Changes
Your financial situation and the value of your home may have changed over time. Whether you're feeling the weight of your mortgage now more than ever or you have more savings up your sleeve for your dream home. Both are motivators for selling.

Four | You're emotionally ready to sell
If you find yourself actively scrolling listings, daydreaming about a new home, or resenting where you currently are, then you might be ready to sell. With so much involved with selling a home, we can sometimes forget the emotional aspect of deciding to list. Be aware of the emotional process of preparing your home for sale, for feedback you may receive from your agent or potential buyers, and for what your next moves are after selling. If you feel like you are ready and now is the time to sell, then trust your gut.

Five | Market Changes
If you just watched your neighbours sell for a price you'd be happy with, it could be a sign that it's time to sell. You may discover that you are in a seller's market, and now may be an excellent time to test that market and find out the value of your home by speaking with an agent.