7 Popular Reasons People Sell Their Homes
Did you know that, on average, Americans change homes every 6 years? Whether they’re faced with personal circumstances, financial difficulties or professional obligations, millions of people have no choice but to uproot and look for new nests to settle. To get a better understanding of what encourages homeowners to put their properties on the market every year, we’ve compiled 7 widespread scenarios for home sales. This isn’t an exhaustive list, of course, as causes often vary and are specific to personal situations.
On the one hand, the most common reason people sell their homes is to make room for an expanding family. The arrival of a baby is a formidable life event, yet it often entails new arrangements and unforeseen costs. As such, parents must quickly relocate to a place that’s more adapted to their new needs. People usually take this opportunity to invest in bigger homes with larger living rooms and kitchens, additional bedrooms and bathrooms, extra garage space, and possibly a garden (with or without a pool, depending on their budget). So, if your family is welcoming its newest member, don’t just settle for an extra nursery. It’s best to see things in big to avoid having to relocate every time.
On the other hand, many couples forego their lifelong house due to their children have left for college or to start their lives as independent adults. This is known as the “empty nest” syndrome. As a result, they find themselves with rooms and extra space they no longer have a use for, which can induce supplementary costs for maintenance. Although it certainly isn’t easy parting with years of family memories, this is a top reason why people sell their properties each year.
“Distressed” homes and financial difficulties
The financial crisis of the last 10 years has put immense pressure on middle- and lower-income families. For many, mortgage payments represent a considerable portion of their budget. This leads to people not being able to tend to their houses, or keeping them all together. If you live in the Tampa Bay area, Western Florida, https://www.webuyhouses-4cash.com/ recommends a convenient solution if you’re looking to sell your home fast, regardless of its current condition (need for structural or cosmetic upgrading, for example). It’s a great, reliable option that will guarantee you a quick and much-needed influx of cash.
Many houses are put up for sale annually because their owners no longer feel safe in their neighborhoods. Besides the fact that high criminality rates can affect and deteriorate a property’s value worth, robberies, breaking-and-entering and home thefts are sadly all too common in many towns and counties nationwide. So, to avoid having to sleep with one eye open, or with a (legally acquired) gun under your pillow, many homeowners simply decide to relocate somewhere that will ensure safety for them and their families.
Change of scenery
In a similar vein, a lot of Americans just no longer feel satisfied with the environment they live in. Perhaps they want to change scenery or lifestyle, move to a more pleasant state, or get closer to their families across the country. That’s why they’ll be looking to sell their homes, in search of happier horizons.
If you work in a well-established corporation, chances are your boss will offer you that rewarding promotion, only if you’re willing and able to relocate to another city. Also, as a fresh college graduate, you won’t always find the right job opportunities nearby. This is the reason people are often encouraged to relocate to more populated urban centers, where they’ll have a better chance of finding steady employment. In any case, this will prompt a change in living situations and force people to sell their current house or apartment.
Retiring is the last stage of a classic lifecycle. You woke up early every day to go to work, provide for your family and save up for your golden days and now it’s time to enjoy the rest of your life in peace. Those with no inheritors will most likely sell their homes to top up their retirement funds or use the money to buy a condo in a sunny part of Florida or California.
All things considered, there are a million reasons why Americans decide to sell their homes annually. The real estate market is constantly being flooded with old homes looking for new acquirers. Remember that selling your abode is always a foretelling sign for a new step in your life. This will inevitably happen to you, at one point or another!