It is not uncommon for homeowners to think about selling their house. On average, most Americans move every 5 to 7 years. If you are considering selling, then you will want to understand what has motivated you at this time and what you want to achieve by selling your home. That will help you and your realtor decide the best approach for selling your home to meet your changing needs.
It can be seen as a very sad event when financial issues are forcing the sale of your home. But it is important to make that difficult decision quickly to minimize the damage to your credit. The loss of a job, an extended illness or even a divorce can all result in falling behind in your mortgage payments. But letting that past due amount grow does nothing but make it more difficult to pay. Looking at your long term credit and finances will help you to see that selling your current home to avoid a foreclosure or bankruptcy might be your very best solution. It certainly won’t be easy but continue to focus on the future and the fact that you will be in a solid financial position in the future and you can purchase a new home.
The size of your home 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 a house that you once loved feel like a tiny, cramped cave. The other side of that situation is when you are in the empty nester phase and your house feels huge and empty. A house that was once full of happy sounds of children and pets now echoes with loneliness. In either case, your house is not meeting your needs and selling it is a good option for you.
Maybe you bought your house for a great price and spent a few years making repairs and renovations. Now your home is worth substantially more than you owe on it or paid for it. This is a great time to sell and turn the perceived equity into cash. 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 more emotional than financial but are still very important. There could have been a certain aspect of the area that you really connected with. Maybe it was the lush park or the feeling of community in the neighborhood, but for some reason that has changed or is gone. 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 specific reason that you want to move but you feel the desire for change. Maybe a new home or a new type of home will fulfill your desire to change your life and begin a new experience. Whether financial, logistical or emotional knowing and understanding your reason to sell your home will help you to decide where your future is taking you.