Should You Sell Now? The Lifestyle Factors That Could Tip the Scale

Should You Sell Now? The Lifestyle Factors That Could Tip the Scale

Are you unsure whether to sell your house now or wait? It’s a common dilemma, but here’s an important point to consider: your lifestyle might be the most significant factor in your decision. While financial considerations are important, personal motivations for moving can often be reason enough to take the leap sooner rather than later.

An annual report from the National Association of Realtors (NAR) provides insight into why homeowners like you decide to sell. Interestingly, all of the top reasons are related to life changes. As the graph below highlights:

As the visual shows, the top motivators for selling were the desire to be closer to friends or family, outgrowing their current house, or experiencing significant life changes like getting married or having a baby. The need to downsize or relocate for work also made the list.

If, like the homeowners in this report, you find yourself needing features, space, or amenities that your current home can't provide, it might be time to consider talking to a real estate agent about selling. Your needs are important. A real estate agent will guide you through your options and what you can expect from today’s market, helping you make a confident decision based on what matters most to you and your loved ones.

Your agent can also help you understand how much equity you have and how it can make moving to meet your changing needs easier. As Danielle Hale, Chief Economist at Realtor.com, explains:

“A consideration today's homeowners should review is what their home equity picture looks like. With the typical home listing price up 40% from just five years ago, many home sellers are sitting on a healthy equity cushion. This means they are likely to walk away from a home sale with proceeds that they can use to offset the amount of borrowing needed for their next home purchase.”

Bottom Line

Your lifestyle needs might be the deciding factor in motivating you to make a change. If you'd like help weighing the pros and cons of selling your house, let’s have a conversation.