What’s Motivating Homeowners To Move Right Now

What’s Motivating Homeowners To Move Right Now

In recent years, many homeowners have chosen to hold off on moving to avoid selling their current home and taking on a higher mortgage rate for their next one. If you’re in a similar position, it’s understandable – this hesitation is a major reason the housing supply has remained low.

However, more homeowners are now deciding they can’t put off their plans any longer, often due to personal or lifestyle changes. As Redfin points out:

“Some homeowners are opting to bite the bullet and give up their low rate in order to move. Many are selling because a major life event like a job change, or divorce . . .”

If you’re on the fence about moving, consider some of the main reasons others are choosing to sell. These might resonate with you and give you the confidence to make your move now.

It’s Time for a Change

Relocating for a new job, wanting to be near family, or craving a change in environment are all common motivations to sell. For instance, if you’ve received an exciting job offer in a new city, putting your home on the market might be the next practical move.

There’s Just Not Enough Space in Your Current House

Life changes, like a growing family, needing a dedicated home office, or wanting more space for gatherings, can make your current home feel limiting. For example, if you're in a condo and expecting a baby, selling could be the right choice to move into a larger home that better supports your lifestyle.

Retirement or Wanting To Downsize

On the other hand, some homeowners are eager to downsize, whether because children have moved out, they're entering retirement, or they simply want a more manageable space. If you're recently retired and envision a simpler lifestyle, moving to a smaller home can give you more freedom and resources to enjoy this next phase.

Changes in Relationship Status

Significant life changes, such as divorce, separation, or marriage, frequently bring about the need for new housing. If you've recently gone through a divorce, selling the home you once shared can help both of you move forward and establish living arrangements that better suit your current needs.

Health and Mobility Needs

Health issues, particularly those impacting mobility, can often prompt a move. A home that once suited you may no longer meet your needs. If this resonates, selling your current property to find a more accessible living space—or using the funds for assisted living—might greatly enhance your comfort and quality of life.

Bottom Line

Selling your home involves more than just considering market trends or interest rates; it's about choosing what's best for your lifestyle and future goals. As Bankrate explains:

“Deciding whether it’s the right time to sell your home is a very personal choice. There are numerous important questions to consider, both financial and lifestyle-based . . . Your future plans and goals should be a significant part of the equation.”

If a significant life change has you considering a move, this could be the right time to sell. Let’s connect so you have guidance from an expert to help you through the process.