It is not uncommon for homeowners to think about selling their house. Most Americans move every 5 to 7 years. If you are considering selling, then you will want to consider what has motivated you at this time and what you want to achieve by selling your home. That will help you and your real estate team decide the best approach for selling your home to meet your changing needs.
Sadly, sometimes a home sale is driven by a financial issue. But you need to remember that is very important to make that difficult decision quickly to minimize the damage to your credit score. The loss of a job, an extended illness or even a divorce can all result in falling behind in your mortgage payments. But not facing the problem and working to correct it will only make you financial problems grow, they will never go away on their own. Force yourself to focus on your long term goals and finances. That will help you to see that selling your current home to avoid a foreclosure or bankruptcy is your very best solution. It certainly won’t be easy but by remaining focused on the future and the fact that you will be in a solid financial position in the future should give you the motivation you need to work towards correcting your financial mistakes.
The size of your home and how well it meets your needs can play a big role in how happy it makes you. A small home and a large family makes every day a challenge. Too many people and too much stuff can make everyday feel like a battle to just make it through the day. Nothing is organized and there is chaos everywhere. The other side of that situation is when you are in the empty nester phase and your house feels lonely and empty. A house that was once full of family and activity is now silent. In either case, your house is not meeting your needs and selling it is a good option for you.
Maybe you enjoy doing projects and you bought your house for a great price and spent a few years making repairs and renovations. Now your home is worth a great deal more than you owe on it or paid for it. This is a great time to capitalize perceived equity you have built up. The current lack of inventory for homebuyer’s means that you have the opportunity to list your home and sell quickly for full price.
The final two reasons are emotional and are equally as important as any financial reason to sell your home. You might have felt a certain connection with the area or the neighborhood but now that feeling has changed. Maybe the area was full of young families and children but now they have grown up and moved on. Not feeling the same connection with your neighborhood can completely change the way that you feel about your home. And likewise, there might not be a single reason that you want to move, you just feel like you are ready for an adventure and you want to make some changes in your life. A new home or a new type of home will fulfill your desire. Regardless of the reason or reasons, understanding what those reasons are will help you to decide where your future is taking you.