What's Motivating Your Move?

What's Motivating Your Move?

Contemplating selling your home? Take a moment to reflect on the factors motivating your decision. A recent survey conducted by Realtor.com delved into the reasons behind homeowners' desire to sell their homes in the current year. Here are the primary two factors identified:

Let's take a closer look and see if they’re motivating you to make a change too.

1. To Make a Profit

If you're considering selling your home, you likely have numerous questions swirling in your mind. Fortunately, recent data offers encouraging news: the majority of sellers are seeing substantial returns on their investment upon selling. According to ATTOM, a leading property data provider:

“. . . home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return on investment.”

That’s significant. And here’s one contributing factor. During the pandemic, home prices skyrocketed. There was way more buyer demand than homes available for sale and that combination pushed prices up.

Now, home prices are still rising, just not as fast. That ongoing appreciation is good news for your bottom line. Any profit you make can help offset some of today’s affordability challenges when you buy your next home.

If you want to know how much your house is worth now and what's going on with prices in your area, talk to a local real estate agent.

2. For Family Reasons

Maybe you want to be near relatives to help take care of older family members or to have more support nearby. Or maybe you’re just eager to spend time together on special occasions like birthdays and holidays.

Selling a house and moving closer to the people who matter the most to you helps keep you connected. If the distance is making you miss out on some big milestones in their lives, it might be time to talk to a local real estate agent to find a place close by. The National Association of Realtors (NAR) says:

“A great real estate agent will guide you through the home search with an unbiased eye, helping you meet your buying objectives while staying within your budget.”

Bottom Line

If you're contemplating selling your home, there's likely a significant motivation behind it. Let's have a conversation so you can receive assistance in making the optimal move to achieve your goals this year.