Are you torn between selling your house now or waiting for a better time? It’s a decision many homeowners face, but there’s a crucial factor you might be overlooking: your lifestyle. While finances undoubtedly play a role, often, personal reasons can be the driving force behind making a move sooner rather than later.
According to the latest annual report from the National Association of Realtors (NAR), lifestyle changes are the primary reasons why homeowners decide to sell. The chart below illustrates the top motivations, all of which are closely tied to significant life events.
As shown in the visual, the top reasons homeowners choose to sell include wanting to be closer to family or friends, outgrowing their current home, or experiencing major life changes such as marriage or the arrival of a new baby. Downsizing or relocating for work are also common motivators.
If you, like many others, find that your current home no longer meets your needs—whether it’s lacking space, features, or amenities—it might be time to consult with a real estate agent about selling. Your needs are important, and an experienced agent can guide you through your options, helping you understand today’s market so you can make a confident decision that best serves you and your loved ones.
Additionally, your agent can help you assess how much equity you’ve built in your home, which can make the transition to a new property smoother and more affordable. As Danielle Hale, Chief Economist at Realtor.com, notes:
“One thing today’s homeowners should consider is their home equity. With home listing prices up 40% compared to five years ago, many sellers have a significant equity cushion. This means they could walk away from the sale with substantial proceeds, which can be used to reduce the amount of borrowing needed for their next home purchase.”
Bottom Line Your lifestyle needs might be the key factor in deciding to make a move. If you’re weighing the pros and cons of selling your house, let’s have a conversation to explore your options.