In recent years, many homeowners have put off moving because they don’t want to trade their current home’s low mortgage rate for a higher one. If you’ve been thinking along the same lines, you’re not alone—this is one of the main reasons housing inventory has remained so tight.
However, a growing number of homeowners are realizing that they can’t put off their move any longer, often due to significant lifestyle changes. As Redfin puts it:
“Some homeowners are opting to bite the bullet and give up their low rate in order to move. Many are selling because of a major life event like a job change, or divorce . . .”
If you're on the fence about selling, here are some common reasons why others are choosing to make a move, which might resonate with your situation.
Time for a Fresh Start
A new job in a different city, the desire to be closer to family, or simply wanting a change of scenery can all prompt a move.
For example, if you’ve been offered a great position that requires relocating, putting your current home on the market might be the next logical step in your journey.
Outgrowing Your Current Home
Sometimes your home no longer suits your needs. Whether it’s a growing family, the need for a home office, or wanting more space for hosting, these lifestyle shifts can motivate a move to a larger home.
If you’re currently living in a condo and expecting a baby, selling might be the right choice so you can upgrade to a home that better fits your changing needs.
Downsizing for Retirement
On the other hand, many homeowners are looking to downsize. This is often driven by kids moving out, retirement, or simply wanting to simplify their lifestyle.
If you’ve recently retired and are dreaming of a more manageable space, downsizing could help free up time and resources to enjoy this new chapter of life.
Changes in Relationship Status
Significant relationship changes like marriage, divorce, or separation can often lead to new housing needs.
If you’ve recently gone through a divorce, selling the home you once shared can help you both move on and find a new living arrangement that works better for your current situation.
Health and Accessibility Needs
Health issues, particularly those affecting mobility, can also prompt a decision to move. A home that once worked perfectly may no longer meet your physical needs.
If this sounds familiar, selling your home to find a more accessible space—or using the proceeds for assisted living—can make a big difference in your quality of life.
Final Thoughts
Selling a home isn’t just about mortgage rates or market trends—it’s also about choosing what’s best for your life and future plans. As Bankrate highlights:
“Deciding whether it’s the right time to sell your home is a very personal choice. There are numerous important questions to consider, both financial and lifestyle-based . . . Your future plans and goals should be a significant part of the equation.”
If a major life change has you considering a move, now could be the right time to sell. Partner with a trusted real estate professional to guide you through the process and make informed decisions.
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