Two Reasons to Sell Your Home
Do you want to sell your house this year? As you make your decision, consider what motivates you to contemplate moving. A recent survey from realtor.com asked why homeowners are thinking about selling their houses this year. Here are the top two reasons (see graphic below):
Let’s break those reasons down and explore how they might resonate with you.
1. I Want To Take Advantage of the Current Market and Make a Profit
When you decide to sell your home, you're probably thinking about how much money you'll make. So, here's some good news: according to the most recent data, the average seller can expect a high return on investment when they sell their home.. ATTOM explains:
“The $112,000 profit on median-priced home sales in 2022 represented a 51.4% return on investment compared to the original purchase price, up from 44.6% last year and from 32.8% in 2020.”
Even if housing prices have fallen marginally in some cities, they are still significantly higher than they were only a few years ago. Work with a local real estate agent to understand what's going on with property prices in your area and the current value of your home. They will be able to provide you with the most accurate estimate of how much you could profit if you sell this year.
2. My Home No Longer Meets My Needs
The average person has been in their house for ten years. That’s a long time when you think about how much may have changed in your life since you moved in. And typically, those changes have a direct impact on what you need in a home. Whether it’s more (or less) space, different features, or a location closer to your work or loved ones, your current house may no longer check all the boxes of what feels like home to you. If that’s the case, it could be time to work with a real estate agent to find a better fit.
If you're considering selling your home, there's a good reason for it. Let's talk so you can make a move that will help you achieve your goals this year.