Two Reasons Why You Should Sell Your Home
Wondering if you should sell your home this year? As you make your decision, think about what prompted you to consider moving. A recent survey from realtor.com asked why homeowners are considering selling their homes this year. Here are the two main reasons (see chart below):
Let’s break those reasons down and explore how they might resonate with you.
1. I Want To Take Advantage of the Current Market and Make a Profit
When you decide to sell your house, how much you’ll make from the sale will likely be top of mind. So, here’s some good news: according to the latest data, the average seller can expect a strong return on their investment when they make a move. ATTOM explains:
“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.”
While home prices have fallen slightly in some markets, they are generally still much higher than they were a few years ago. To understand what is happening with home prices in your area and the current value of your home, work with a local real estate professional. They can give you the best advice on how much money you can make if you sell this year.
2. My Home No Longer Meets My Needs
Ordinary people have been in their homes for ten years. Have you thought about how long your life has changed since you moved in. And often these changes have a direct impact on what you need in a home. Whether it’s more (or less) space, different features, or location closer to work or your loved one, your current home may no longer tick all the boxes. for what you feel at home. If so, it may be time to work with a real estate agent to find a better fit.
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MAY 9, 2023