If you’re a homeowner, it’s likely that you initially bought your house because it fulfilled your needs at that time. However, as your life changes, so do your needs. If you find yourself in this situation, it might be time to think about selling your home.
According to the National Association of Realtors (NAR), the average homeowner has been living in their house for a decade. During that time, many changes may have occurred in your life. Therefore, if your current house no longer meets your needs, it may be worth exploring your options in today’s real estate market. A local real estate agent can help you explore your options.
Recent studies have shown that one-third of homeowners considering selling in 2023 are doing so because their current home no longer meets their needs, according to Realtor.com. Additionally, this year’s top reasons for selling a home, according to NAR’s report, include relocating closer to friends or family, retiring, needing a different size or type of home, experiencing a change in family circumstances, and relocating for a job.
Now may be a great time to sell your home, as we are currently in a strong seller’s market. Homes listed at market value and in good condition are selling quickly, and your real estate agent can offer advice on how to prepare your home for sale.
Another advantage of selling your home is that you can use the equity you have built up to finance your next home. With the recent record levels of price appreciation, it’s likely that you have significant equity in your home. In fact, NAR’s report shows that 38% of recent home buyers used the proceeds from the sale of their previous home to fund their next home’s down payment. Your local real estate agent can help you determine your current equity and discuss your options for using it to buy your dream home.
In summary, if your current home no longer meets your needs, it may be time to consider selling it and finding a home that better suits your lifestyle. Contact a local real estate agent to discuss your options in today’s market.
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