What’s Motivating Your Move?
Thinking about selling your house? As you make your decision, consider what’s pushing you to think about moving. A recent survey from Realtor.com looked into why people want to sell their homes this year. Here are the top two reasons (see graphic below):
Let’s take a closer look and see if they’re motivating you to make a change too.
1. To Make a Profit
If you’re contemplating selling your home, chances are you’re grappling with a multitude of questions. Here’s a comforting revelation: recent data indicates that most sellers are reaping substantial returns on their property investments. According to ATTOM, a leading property data provider, in 2023, the average seller pocketed a handsome $121,000 profit, translating to a remarkable 56.5 percent ROI.
This is no small feat, and one pivotal factor behind this phenomenon is the meteoric rise in home prices during the pandemic. With demand far outstripping available inventory, prices soared to unprecedented heights. While the pace of this ascent has slowed somewhat, home values are still on an upward trajectory. This continued appreciation bodes well for your financial interests. The profits you accrue from the sale can serve as a buffer against the present challenges of affordability when you embark on purchasing your next residence.
If you’re curious about the current value of your property and the prevailing trends in your local market, it’s important to talk with a knowledgeable real estate agent in your area. They can provide invaluable insights into the dynamics shaping property values and guide you through the selling process.
2. For Family Reasons
Perhaps you’re seeking proximity to relatives to offer assistance in caring for elderly family members or to foster a stronger support network nearby. Alternatively, you might simply be yearning to share in special moments like birthdays and holidays with loved ones.
Opting to sell your current home and relocate nearer to those who hold significant importance in your life facilitates ongoing connections. If geographical distance is causing you to miss out on significant milestones in the lives of your loved ones, it could be opportune to engage in dialogue with a local real estate agent to explore options for finding a residence in close proximity.
The National Association of Realtors (NAR) says:
“A great real estate agent will guide you through the home search with an unbiased eye, helping you meet your buying objectives while staying within your budget.”
Bottom Line
If you’re thinking about selling your house, there’s probably a good reason for it. Let’s talk so you have help making the right move to reach your goals this year.
