There are many different reasons why people want to sell their homes, but every seller, regardless of circumstance, should really evaluate the desire to move. Do you have too few rooms, or too many? Has your job moved to another city and you're relocating? Are the neighbours driving you away? Or are you simply looking for a change? A complete analysis of your current position and financial situation will set the tone for your next home search.
Are you Ready to Sell?
How do you know if you are ready to sell? Consider some of the top reasons for selling and moving, listed below. If these correspond with your financial or lifestyle requirements, it may be time to think about finding a new property that is a better match for your needs.
Popular Reasons to Sell:
- You Need More Space – Or Less
Perhaps you bought your house before you had kids, or maybe your kids have now grown up and moved away. Over time, your property needs are likely to change, so you’re likely to outgrow your first home and require more space – a good reason to sell your house. By the same token, you may wish to downsize once you have retired. In both instances, if you require a home of a different size, this is one of the primary reasons to sell.
- You are Relocating
You’ve been promoted, secured the job of your dreams, or simply wish to move to a different area. Relocation is a prime reason to sell your house, and if you’re moving to a new city entirely, it’s obviously unavoidable. Many people also sell their homes in order to cut out – or at least, minimize – their daily commute. This helps to save time and money on transportation costs while reducing traffic-induced stress!
- Your Financial Situation Has Changed
Perhaps you under-estimated the financial responsibilities of a mortgage or the costs associated with maintaining a home. This along with unfortunate circumstances like the loss of a job, long-term disability or divorce can affect your financial situation. To avoid losing your home to repossession, selling your home and downscaling, or renting for a period of time until you are back on your feet is definitely an option.
This is another common reason for individuals to sell their properties . Selling your house as a result of divorce is necessary if you need to buy the other person out, or if want a new start, as many divorcees do. In this scenario, it’s likely that both parties will want a fast house sale that releases the cash as quickly as possible.
If you have answered “yes” to these key questions, then it’s time to think about the specifics associated with selling your home.
Please refer to our Sellers’ Resource Guide for more information.