Are you thinking about selling your home? Our real estate agents talk to people every day who have made the decision to list, and their reasons are always varied. Sometimes they're financial, personal, or job-related. Other times it's just a matter of preference.
If you've ever wondered why people sell their homes, you're in the right place! Here are the top ten reasons we hear most often.
- A Growing Family
Many first-time homebuyers start out with a small "starter home." As their families grow and children get older, they often find that they need more space.
- Improved Finances
As homeowners' financial situations improve, they realize that they can afford the home they've always dreamed of. A thriving career, inheritance, or other financial windfall is a common reason to sell your current house and seek out a larger, more luxurious home.
- Change in Employment
A new job or a transfer to a new city is also a common reason that people pack up and move. In this case, there's nothing wrong with the home itself, other than its location.
- Change in Relationships
Marriage, divorce, or death of a spouse also often trigger a move as homeowners find that they need more or less space than the current home offers. Depending on the circumstances, the homeowner might also want to get away from the memories associated with their current living situation.
- Empty Nest
When children grow up and move out, couples often find that they don't need as much space. Often, they also no longer want to keep up with the maintenance that a large home requires.
Retirement often triggers a decision to move to a warmer climate or into an active retirement community. These living arrangements may include attractive amenities like recreational facilities, golf courses, and social activities that make them appealing to the 55-and-over crowd.
- Neighborhood Downslide
Sometimes, homeowners have the unfortunate luck of living in a neighborhood that has suffered from a decline. Areas that have high crime rates, a large number of foreclosures, or undesirable neighbors often drive homeowners to sell their homes and move to a better neighborhood.
- Financial Problems
There are many financial problems that can lead to a home sale. Some examples include job loss, falling behind on mortgage payments or taxes, or the inability to keep up with the cost of living in the home. Many homeowners will list their homes for sale in an effort to avoid foreclosure.
- Maintenance Issues
Homeowners sometimes find that their property requires more maintenance than they can keep up with. Falling behind on maintenance tasks can result in serious issues. When a home needs major repairs like a new roof or a plumbing update owners may decide to sell rather than deal with the inconvenience and financial outlay.
- Change in Lifestyle
As our lifestyles change, our housing preferences often do as well. Someone who loved living in a hip, downtown area might decide that they're ready for a quiet, suburban life. As walkable neighborhoods become more popular, others might decide to move out of the suburbs and into an area where they'll have easy access to dining, shopping, and other conveniences.
Now that you have an idea of some of the most common reasons people sell their homes, you might have started thinking about whether the time is right to sell yours. Contact us today to get started selling your home on Long Island.