Even though you may feel reluctant to sell your house because you don’t want to take on a mortgage rate that’s higher than the one you have now, there’s more to consider.
While the financial side of things does matter, your personal needs may actually matter just as much.
As an article from Bankrate says:
“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”
So, Ask Yourself This: Why Did I Want to Move in the First Place?
Chances are your primary motivation wasn’t just financial in nature. Why you’re really thinking about selling likely has more to do with something changing in your life or a shift in what you need out of your house.
Reasons Homeowners Still Need To Sell Today
Let’s explore some of the most common reasons sellers are moving today.
A recent article from Builder Online helps shed light on this. In this research, they identified the following categories:
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Marriage – You may need more space or want to choose a home together.
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Divorce – Separation often means needing your own space.
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Births – Growing families often outgrow their current home.
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Deaths – You may no longer need the space or may need a fresh start.
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Retirement – Downsizing, relocating, or seeking a lifestyle shift often motivates a move.
You may find you share one of these top motivators.
If any of these resonate with you, it may be time to move so you can find a house better suited to your changing needs.
A survey from Realtor.com says other sellers are in the same boat:
“. . . more than half of seller-buyers (56%) who are planning to sell in the next 12 months said they are waiting for rates to come down, while
25% need to sell soon for personal reasons.”
25% need to sell soon for personal reasons.”
If you need to sell now because something in your own life has changed, don’t let rates hold you back from what you want.
You have options:
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Use your equity toward your next purchase
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With current equity levels, you may be able to borrow less or pay all cash
Bottom Line
When you’re ready to prioritize your changing needs, reach out to a trusted real estate professional.
They can help you list your house and find a home that delivers on everything you’re looking for.
They can help you list your house and find a home that delivers on everything you’re looking for.
