Are you undecided about whether to sell your house now or wait? It’s a common dilemma, but one crucial factor to think about is how your lifestyle plays into this decision. While financial considerations are important, sometimes personal reasons for moving can be compelling enough to prompt you to act sooner.
The National Association of Realtors (NAR) annual report sheds light on why homeowners like yourself chose to sell. The data reveals that most top reasons for selling are linked to life changes. According to the report:
No Caption Received The chart illustrates that major motivators included the desire to be closer to friends or family, outgrowing their current home, or experiencing significant life events such as marriage or having a baby. Downsizing or relocating for a job were also key factors.
If you’re finding that your current home no longer meets your needs in terms of features, space, or amenities, it might be time to consider discussing your options with a real estate agent. Your needs are important, and an agent can guide you through the process and provide insights into today’s market, helping you make a well-informed decision based on what matters most to you and your family.
Additionally, your agent can help you understand your home equity and how it might ease the transition to a new property. Danielle Hale, Chief Economist at Realtor.com, notes:
“Today’s homeowners should review their home equity situation. With the typical home listing price up 40% from just five years ago, many sellers have a substantial equity cushion. This often means they can use the proceeds from their sale to reduce the amount of borrowing needed for their next home purchase.”
Bottom Line Your lifestyle needs could be a strong enough reason to make a move. If you’re considering whether selling your house is the right choice, reach out to a local real estate professional to explore your options and make a decision that aligns with your needs.
