So, ask yourself this: why did I want to move in the first place?
Reasons Homeowners Still Need To Sell Today
- Marriage – If you just got married, you may find you either need more space than you currently have, or the two of you want to find a new place you picked out together.
- Divorce – If you’re getting separated or are divorcing your partner, chances are it’ll be difficult to live under the same roof. Selling the place you have, so you can own get your own spot, may be necessary.
- Births – If your household is growing, you may need more square footage, including more bedrooms. If you’re running out of room for everyone, you may not be able to wait to move.
- Deaths – If you’ve recently lost a loved one, it can be hard to spend time in that home. You may need to move for financial reasons or because you no longer need all the space.
- Retirement – If you’re in the process of retiring, or you just did, you may be looking to downsize to cut costs, relocate to be closer to loved ones, or move to a dream location. In this new phase of life, your current home may not be able to deliver what you need.
You may find you share one of these top motivators. If any of these resonate with you, it may be time to move so you can find a house better suited to your changing needs. A survey from Realtor.com finds other sellers are in the same boat. It says, 1 in 4 sellers are choosing to move for personal reasons, even with current mortgage rates:
If you need to sell now because something in your own life has changed, don’t let rates hold you back from what you want. You have options to help make that move possible. You can use the equity you already have in your current home toward your next purchase. And with how much equity homeowners have right now, you may be able to finance less than you’d expect, or pay all cash to avoid borrowing at all.