Here are the Top Reasons to Sell Your House
Many homeowners today bought or refinanced their homes during the mortgage crisis. Some homeowners decided to hold off on moving because they didn’t want to lose the low mortgage rate on their house. Rates doubled in 2022. Today’s rates are starting to fall from last year’s peak but they are still higher than they were two years ago. This means that a large majority of homeowners with mortgages have rates below what they would get if they moved now. If you are a homeowner in this situation, mortgage rates are not the only thing to think about when moving. While your mortgage rate is important, there are many reasons why you might still need to or want to move. RealTrends explains:
“Sellers who don’t need to move won’t be moving.” The most popular sellers will be homeowners who are downsizing. . . People move to have more space, [households] look for better schools, etc.
If you are still unsure whether to sell your house, here are some reasons why. The National Association of Realtors (NAR), recently released a report that explains why homeowners have chosen to sell in the past year.
The visual shows that the most common reasons for selling were to be closer to family members, as well as to move due to retirement and the neighborhood becoming less desirable. A change in household structure or the need for more space were also factors.
It may be time for you to sell if you are also looking for a change of location or extra space that your current house doesn’t offer.
Moving can be a decision based on what you need and want in a home. A trusted real estate professional can help you determine what is best for you. They will provide expert guidance and advice throughout the process. They will be able to explain all your options, giving you the information you need to make an informed decision.
Bottom Line: There are many factors to consider when deciding whether to move. There are many non-financial factors to consider. Talk to a local realtor who can help you weigh up the benefits of selling your home.
Members: Sign in now and get your personalized posts! Click Here to learn more about KCM’s newest feature, personalized posts.