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

Dave Jensen September 2, 2024

Should You Sell Now? If you’ve had any thoughts about selling, it’s a good bet now is the right time. But make sure. Why are you thinking to sell? If you end up in a better financial position, great. But lifestyle usually is the driving force. Family. Retirement. New Job. Maybe just a fresh start. Call your Realtor (or me) today. Get more information so you can know if selling now and moving will produce the result you want. Get the data.

Are you on the fence about whether to sell your house now or hold off? It’s a common dilemma, but here’s a key point to consider: your lifestyle might be the biggest factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to make the leap sooner rather than later.

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

As the visual shows, the biggest motivators were the desire to be closer to friends or family, outgrowing their current house, or experiencing a significant life change. Getting married or having a baby definitely motivate folks to make the decision to sell. The need to downsize or relocate for work also made the list.

If you, like the homeowners in this report, find yourself needing features, space, or amenities your current home just can’t provide, it’s time to talk to a real estate agent about selling your house. Your needs matter. That agent will walk you through your options and what you can expect from today’s market, so you can make a confident decision based on what matters most to you.

Here’s another relevant article to review if you’ve had any thoughts of selling. It talks about the financial side of selling and how to price your home right.

Your agent will also be able to help you understand how much equity you have and how it can make moving to meet your changing needs that much 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 may be enough to motivate you to make a change. If you want help weighing the pros and cons of selling your house, let’s have a conversation.