Why Do You Want to Sell and is it Enough to Make the Move

Why do you want to sell, and is it enough to make the move?

People sell their homes for many different reasons. Often the reason to sell your house is because you are downsizing and want a smaller home. Just as often, it’s because you are upscaling, and have your eye on something that is bigger and better, possibly grander. 

If you are planning to sell, what is your motivation for selling? And is it enough for you to actually make the move?

Research shows that typical homeowners are hanging onto their houses for longer than they used to. According to an article published on the National Association of Realtors’ website last year:

• From 2001-2006 it would take people like you six years to sell your house (that is if you’re a typical seller).
• By 2009 you’d be staying in your home for as long as seven years.
• In 2011 it was more common for homeowners to wait for at least nine years before selling. 

The Motivation for You to Sell Your House

According to the research quoted by the National Association of Realtors, the motivation people have for selling – and essentially the reason to sell – has changed quite a bit in recent years. 

About five years ago, a primary reason (about 19%) was because the home they were living in was too small. In other words upscaling was a fairly major factor. Job relocation, on the other hand, was a minimal factor (only about 9%). By 2011 (when the research was completed) job relocation had become an important factor to sell your house, although the need to move to a bigger place was still relevant and important to many people. 

Of course demographics are always valid, and age is one factor that needs to be considered when we try to fathom the reasons to sell your house. In general terms, it seems that close to a third (29%) of people in the 45 to 54 age group, who want to sell their homes – whether downsizing or upscaling – are driven by the need to find a new home where their job is (whether the job is new or because they have been transferred). 

The threat of foreclosure has also increased significantly as motivation to sell your house: from a mere 1% in 2006 to 8% of ALL sellers in 2011. Of any motivation, this is one that will definitely be enough to make people make the move! For the rest, only you will know the answer. 

Selling Your Home? I would love to have a chat with you and lets see if I can assist you with the answers you require to make the decision to sell your home. Karen@KarenBrowder.com