Have you fallen out of love with your home? It could be time to relocate
Owning a home means having a space that is entirely yours and provides the space, features, and location that you and your family require. But what if your requirements change? If this resonates with you, it may be time to take action.
According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), the average person has lived in their current house for ten years. If you’ve been in your home for a while, think about how much in your life has changed since you moved in. Even if you thought it would be your forever home when you bought it, it doesn’t have to be. Work with a local real estate agent to explore all your options in today’s market before settling for your current home.
That’s actually what a lot of homeowners are doing right now. A recent survey from Realtor.com finds that, of people who are considering selling in 2023, one in three are thinking about moving because their home no longer meets their needs. And according to the same report from NAR, that’s consistent with this year’s top reasons for selling, which include:
Want to move closer to friends or family
- Moving due to retirement
- Home is too small or too large
- Change in family situation
- Job relocation
If things in your life have changed, it may be time to make a move. And there’s good news: it’s still a great time to sell. Here’s why.
We’re in a strong sellers’ market. That means homes listed at market value and in good condition are getting attention from buyers and selling quickly. Lean on your expert real estate advisor for the best advice on getting your house ready to sell.
Your equity can power your next move. Because of record levels of price appreciation in recent years, you may have a considerable amount of equity right now. When you sell, you can utilize the proceeds to help you buy your next house. Indeed, according to the NAR research mentioned above, 38% of recent buyers utilized the proceeds from the sale of their previous house to support the down payment on their next one. Consult with a local real estate agent to determine your equity and what you can do with it in today's property market.
If your current property no longer suits your needs, consider selling it to discover your ideal home. Let's talk so you may learn more about your possibilities.