Is it Time to Make a Move?
As a homeowner, you know the joy of having a place that you can call your own, with features, location, and space that meet your needs and that of your loved ones. However, what happens when your needs change, and your current home no longer fits the bill? It may be time to consider making a move.
The National Association of Realtors’ (NAR) latest Home Buyers and Sellers Generational Trends Report reveals that the average person has lived in their current house for ten years. If you’ve been in your home for a while, you may want to think about how much your life has changed since you moved in. Even if you thought it was your forever home, it doesn’t have to be.
Exploring Your Options in Today’s Market
Consider working with a local real estate agent to explore your options in today’s market before settling for your current home. In fact, many homeowners are doing just that. According to a recent survey from Realtor.com, one in three people considering selling in 2023 are thinking about moving because their current home no longer meets their needs. This is consistent with this year’s top reasons for selling, which include wanting to move closer to friends or family, retirement, a home that’s too small or too large, a change in family situation, or job relocation.
Why Selling in Today’s Market is a Smart Move
If your life has changed, it may be time to make a move. And the good news is that it’s still a great time to sell your home. Here are some advantages of selling in today’s market:
Strong Sellers’ Market: Homes listed at market value and in good condition are receiving attention from buyers and selling quickly. You can rely on your real estate advisor to provide you with the best advice on how to get your house ready to sell.
Taking Advantage of Your Equity
Equity: Thanks to record levels of price appreciation in recent years, there’s a good chance you have a significant amount of equity in your home right now. When you sell, you can use that equity to help afford your next home. In fact, NAR’s report mentioned earlier shows that 38% of recent buyers used the money from the sale of their previous home to cover the down payment on their next one. Work with a local real estate agent to determine how much equity you have and what you can do with it in today’s housing market.
In conclusion, owning a home means having a place that meets your needs, but if your needs change, it may be time to make a move. Consider working with a local real estate agent to explore your options in today’s market before settling for your current home. And if you do decide to sell, remember that it’s still a great time to do so, given the strong sellers’ market and the equity you can use to power your next move.