Owning a home means having a place solely your own and providing the space, features, and location you and your loved ones need. But what happens when your needs change? If this hits home for you, it may be time to move.
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, consider how much your life has changed since you moved in. It doesn't have to be, even if you thought it would be your forever home when you bought it. 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 considering selling in 2023, one in three are considering 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 move. And the 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. There’s a good chance you have a significant amount of equity right now, thanks to record levels of price appreciation in recent years. You can use that equity to help you afford your next home when you sell. In fact, NAR’s report from above shows 38% of recent buyers used the money from the sale of their previous home to cover the down payment on their next one. Work with a local real estate agent to learn how much equity you have and what you can do in today’s housing market.
Bottom Line
If your home no longer meets your needs, consider selling it so you can find your dream home. Let’s connect so you can learn about your options.
