Here are some common reasons people decide to sell their current home.
1. You’ve outgrown your home
Is your garage too packed to squeeze in your car? Are your parents or older kids now living with you? Are your kids or pets outgrowing the backyard? If these questions sound familiar, it may be a good time to consider getting more space.
2. The market is good for sellers
A "seller's market" is when market conditions exist that create demand for a good or service that exceed the supply available. In real estate, this occurs when there is strong demand but a limited supply of homes for sale. Sellers in this type of market can often capitalize on their original home investment.
3. You’re emotionally ready
You've been in your home for a while, and it's full of wonderful stories: maybe it's where your kids grew up, where you got your first dog, or where you celebrated countless family holidays. As priceless as these memories are, you may be ready to move if the idea of moving sounds more exciting than any nostalgia that may be holding you back.
4. You can afford a more expensive home
For many homeowners, the decision to sell a home comes down to how much equity you have. If the value of your home has increased and is much higher than what you owe or the investment you have in it, you are in a position to be able to afford a more expensive home. The key is to understand how much your home would sell for in the current market, so getting an estimate from The Team with MORE is a good first step.
5. You can afford the move
It can be a good time to move if you have equity in your home, AND you can actually afford to make the move. Moving costs add up--Make sure to account for closing costs of the transaction, the costs of movers, repairs, painting, cleaning, utility transfers, as well as any increased carrying costs like insurance, homeowner’s association dues, and taxes.
6. You simply want a change
Perhaps you want a bigger kitchen and dining room for entertaining. Maybe you desire a more private yard with or without a pool. Or you want to move closer to school, work, or other amenities. Lifestyle change is one of the top reasons people look to move.
7. You are looking to downsize
One of the biggest trends is downsizing for those who are not using all the space they currently have. Finding a home that requires less time and effort to maintain can be very liberating. Maybe you’d like less home maintenance in order to travel, or you’d like to have a couple of smaller homes in different locations. Downsizing can be a great reason to sell.
8. Your current home needs updating/remodeling
Looking for a new kitchen or bathroom? It may be easier to look for something new rather than remodeling your current home. The Team with MORE can help you determine whether your dream home is something new, or something remodeled.