Should You Sell Now? The Lifestyle Factors That Could Tip the Scale
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Are you torn between selling your house now or waiting for a better time? It's a common quandary, but here's a crucial consideration: your lifestyle could be the decisive factor. While financial considerations are undeniably important, personal motivations often play a significant role in prompting a move sooner rather than later.
According to an annual report from the National Association of Realtors (NAR), the primary reasons homeowners decide to sell are closely tied to life changes. As illustrated by the data below:
As the visual shows, the biggest motivators were the desire to be closer to friends or family, outgrowing their current house, or experiencing a significant life change like getting married or having a baby. The need to downsize or relocate for work also made the list.
If you, like the homeowners in this report, find yourself needing features, space, or amenities your current home just can’t provide, it may be time to consider talking to a real estate agent about selling your house. Your needs matter. That agent will walk you through your options and what you can expect from today’s market, so you can make a confident decision based on what matters most to you and your loved ones.
Your agent will also be able to help you understand how much equity you have and how it can make moving to meet your changing needs that much easier. As Danielle Hale, Chief Economist at Realtor.com, explains:
“A consideration today's homeowners should review is what their home equity picture looks like. With the typical home listing price up 40% from just five years ago, many home sellers are sitting on a healthy equity cushion. This means they are likely to walk away from a home sale with proceeds that they can use to offset the amount of borrowing needed for their next home purchase.”
Bottom Line
Your lifestyle needs could be the catalyst for making a move. If you're seeking guidance on evaluating the benefits and drawbacks of selling your home, let's discuss your options.
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