In recent years, many homeowners have chosen to delay moving because they’re reluctant to sell and take on a higher mortgage rate for their next home. If you’re feeling the same way, it’s understandable; this is a common challenge and a major reason why the housing market has had such limited inventory for so long.
However, a growing number of homeowners are now deciding they can’t wait any longer, often due to personal or lifestyle changes. As Redfin points out:
“Some homeowners are opting to bite the bullet and give up their low rate in order to move. Many are selling because of major life events like a job change or divorce . . .”
If you’re considering whether to move, take a look at the top reasons others are choosing to sell. You might find they provide just the motivation you need to make your move now, too.
Time for a Change
A new job in a different city, a wish to be closer to family, or simply craving a change of scenery can all prompt the decision to sell.
For example, if you’ve received an exciting job offer that involves relocating, putting your current home on the market promptly may be the natural next step.
Not Enough Space in Your Current Home
Sometimes, your home no longer meets your lifestyle needs. A growing family, the need for a dedicated home office, or a desire for more room to entertain can all lead to the decision to upgrade to a larger space.
For instance, if you live in a condo and are expecting a baby, selling could be the ideal next step to find a larger home that better suits your needs.
Retirement or Desire To Downsize
Conversely, some homeowners are looking to downsize, whether because their children have moved out, they’re retiring, or they simply want a more manageable space.
If you’ve recently retired and are envisioning a simpler lifestyle, moving to a smaller home could free up time and resources, allowing you to fully embrace this new chapter.
Changes in Relationship Status
Major life events such as divorce, separation, or marriage can often create the need for new living arrangements.
For instance, if you’ve recently gone through a divorce, selling the home you once shared might allow both of you to move forward and find a living situation that better suits your current needs.
Health and Mobility Considerations
Health issues, particularly those affecting mobility, can also lead to a decision to sell. A home that was once ideal may no longer meet your current needs.
If this resonates with you, selling your home to move to a more accessible space—or even using the proceeds to fund assisted living—could greatly enhance your quality of life.
Bottom Line
Selling your home involves more than just market trends or mortgage rates—it’s about making the right choice for your lifestyle and future. As Bankrate notes:
“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 still be an ideal time to sell. Let’s connect so you have an expert to guide you through the process.
