Not sure if you should sell or not? Below are the top ten reasons why people consider selling. If you are facing a similar situation, you may want to consider listing your home on the market with a real estate professional.
1. Relocating: This reason is pretty obvious because in today’s economy, people go where there are jobs. However, if you are financially able the home is in a stable area, you might want to consider keeping it as a rental property. If you do not plan on keeping the property and need to sell it quickly, contract a Realtor to help you get the best offer.
2. Downsizing: As people enter retirement they are faced with empty nests and changes in daily life. Many will decide to sell in order to downsize to smaller, more manageable homes.
3. Risk of Foreclosure: Many homeowners find themselves in mortgages they cannot afford, whether due to job loss or to rising monthly payments. It is far better for your credit score to sell or do a short sale before being foreclosed upon.
4. Job Loss: similar to the above reason, if you have lost your job, but are still not behind on your payments, now could be a good time to take a pre-emptive strike to avoid foreclosure.
5. It’s a Seller’s Market: You won’t find this trend in most of the nation right now. There are, however, spots that are hot beds of activity. These homeowners may wish to sell to make a profit or to avoid the risk of attempting to sell later in a down market.
6. Dream House: It is a great time to buy, interest rates are at historic lows and home prices are stable. If a homeowner has a solid amount of equity in their current home, it may be a good time to sell and move up to their dream home.
7. Changing Locations: A downtown loft may have been a perfect choice for a young bachelor, but as a family evolves and children enter the story, a move may be needed to get to the best school district.
8. You Need Money: Your home can be one of your biggest assets. If you are in need of some liquid money, selling can free up cash.
9. Flipping: Investor may flip a house and sell it in order to make a quick profit.
10. Personal Matters: This could mean people relocating to be closer to their grandchildren, selling to free up cash for an investment, moving to warmer climates, etc.