Gone are the days when you buy one home and stay there until you retire. There are many reasons you may need to sell your home. Surveys say that most people move around 10 times during their lifetime, some more often. Understanding what motivates you will clarify why you want to sell.
Here are the top reasons many people sell their homes.
Housing needs have changed
There are many changes we go through during our lifetime, like finding the right dwelling. Perhaps you are a first-time homebuyer or starting a family and you need a larger home. You may wish to downsize due to retirement or for monetary reasons. You may also need to be closer to family and need help finding a new home.
Lifestyle changes
The past few years have seen many lifestyle changes for us. This may be a new job. Perhaps the morning commute is getting to be too much or there is too much construction in the area. During the pandemic, there was an increase in buyers moving to the country. More people worked from home and this dynamic is still in play. Many people are using the hybrid lifestyle where they combine office and working from home. Some may need to change homes to accommodate more office space.
Seller’s market
Your home may be one of the largest investments you make. You gather equity over the years which allows you to buy a larger home. Selling makes financial sense! In a seller’s market, the seller usually has more control over the sale of their home. There are fewer homes for sale, which gives the seller more chance to negotiate.
Financial or personal issues
From time to time, we may fall into hard times and face challenges, both emotionally and financially. It can be from job loss, the loss of a spouse or divorce. These challenges can also cause you to sell your home. Interest rates and financial challenges can make it tricky to stay in the same home. If you find your finances challenging it may be a sign you need to sell your home.
Property upkeep is demanding
The cost of living can increase over the years and your money might not go as far as it is used to. You may find you have to do some upgrades and repairs, but don’t have the finances to accomplish these projects. You may also find that your home is too big for you. Grown children may have left the nest or your health might have deteriorated over the years. If you find that your home needs ongoing repair work or is outdated, you might want to move to a smaller residence.
These are some of the top reasons that most people sell their homes.
How our Team can help:
- Make a list of home improvements you think you need to do.
- Always remember to do any cosmetic touches like professional carpet cleaning, repair grout, screen doors or leaky faucets. Repaint walls, ceiling, and baseboards. A coat of paint can help lift your home up to new heights.
- Remember a home that is sold as-is can be hard to sell in any market. You will get low offers which may only spark the interest of contractors or flippers.
- We can help you weigh the option of home improvements vs. market value.
Our Team can provide you with free home staging complete with an inventory of furniture and accessories to stage your home to perfection. This is also an important element to ensure that you are in direct competition with other homes on the real estate market. Give us a call as our Team always has a pulse on the real estate market so that we can give you our expert advice on how to sell your home and what improvement you may need to do.