Are you feeling unsure about whether now is the right time to sell your home? It's a common question many homeowners face. While financial considerations are crucial, sometimes personal lifestyle factors can be the tipping point. After all, your life needs and goals might make the decision clearer than market trends.
A recent report from the National Association of Realtors (NAR) sheds light on why many homeowners choose to sell—and life changes top the list. As shown in the graph below:
The primary motivators include the desire to be closer to family and friends, outgrowing their current home, or experiencing a major life event like marriage or the arrival of a new baby. Downsizing and job relocations were also frequent reasons for making a move.
If you find that your current home no longer fits your lifestyle, whether it's space, location, or features, it might be worth considering a move. Working with a real estate agent can help you explore your options and provide a clearer picture of today’s housing market so you can confidently decide what’s best for you and your family.
Additionally, your agent can help you understand your home’s equity and how it can ease your transition into a new home. Danielle Hale, Chief Economist at Realtor.com, points out:
"Homeowners today may find themselves with a substantial equity cushion, with listing prices up 40% from five years ago. Many sellers can use the proceeds from their home sale to reduce the amount they need to borrow for their next home."
Your evolving lifestyle may be reason enough to consider selling. If you’re weighing the pros and cons, reach out to a local real estate professional to guide you through the process and help you make the right choice for your unique situation.
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