Why You Might Consider Selling Your Home
If you have lived in your current home for decades and the thought of selling it has never crossed your mind, you might be surprised to learn that many Americans sell their homes and move on in less than ten years. Why, you might wonder, do people find it necessary sell their homes that often? There are many reasons why the need to sell your current home might arise and here we highlight some of the most compelling.
Change in family size
If you bought your current home when you were just starting your family, you’ll most probably outgrow it as your family becomes bigger. On the other hand, should the current home be big enough for a large family, the time might come when the need to sell will arise especially when your kids leave home and start their own families. A huge near-empty house is not the dream home for an elderly person/couple.
Marriages and break-ups
When two people who own homes get married and start living together, they might need to sell one of the homes. On the other hand, break-ups might also call for the sale of a home for various reasons. Divorcing couples usually have bad memories of the current home and whoever gets awarded the home might only desire to sell it and move on. A large home that required the incomes of two people to sustain might also prove uneconomical for a single person.
You might have bought your current home close to your working place in an attempt to reduce commuting time. Should you then get transferred to another city you’ll have no option but to sell your old home and look for another one in your new location.
Changes in the neighborhood
When you moved into your current home, you might have admired everything about the neighborhood but, in ten years, things could have changed for the worse. Should what was previously a quiet and family-friendly neighborhood start appearing in the news for drugs and crime, you might have to consider selling your home.
Selling to pursue a hobby
When you are buying a home, it could be the most important asset to you but, quite surprisingly, the time comes when owning a home is not the most important thing for some people. Many changes could have taken place in a person’s life and the desire to pursue hobbies might make more sense than owning a home. It is not unusual then to find people selling their homes to fulfill desires such as travelling or working with charitable institutions.
Reduced home appeal
If you bought your current home in the first few years of starting to earn an income, you might find yourself desiring a better one as your income increases. What might have appeared grand ten years ago could now appear dingy to you. If, for instance, you are now running your own business and might consider entertaining employees or clients at home, you might find that the current home does not fit in with your social status.