Two Reasons You Should Sell Your House
Are you considering selling your home this year? Consider your reasons for considering moving as you make your choice. Why are homeowners considering selling their homes this year? was the question posed in a recent poll from realtor.com. The top two explanations are as follows (see illustration below):
Let's dissect those arguments and see whether you can relate to them.
1. I Want To Take Advantage of the Current Market and Make a Profit
How much money you'll make from the sale of your home will probably be on your mind when you decide to sell it. The good news is that the average seller may anticipate a significant return on their investment when they decide to sell their home, based on the most recent data. ATTOM clarifies:
“The $112,000 profit on median-priced home sales in 2022 represented a 51.4% return on investment compared to the original purchase price, up from 44.6% last year and from 32.8% in 2020.”
Even while they have slightly decreased in some markets, overall housing prices are still significantly higher than they were a few years ago. Consult a local real estate expert to determine the current value of your home and what is happening with local home prices. The best advice on how much you might profit if you sell this year might be found from them.
2. My Home No Longer Meets My Needs
The typical resident has been in their current home for ten years. When you consider how much your life may have altered since moving in, that is a considerable amount of time. The things you need in a home are often directly impacted by those changes. Your existing home could no longer tick all the boxes for what you consider to be a home, whether it's more (or less) room, new features, or a location closer to your job or loved ones. If so, it could be time to find a better fit by working with a real estate agent.
There is undoubtedly a good cause for your consideration of selling your home. Let's talk so you may take a step that will enable you to reach your objectives for this year.