16 Sep Should I sell my house?
Deciding to sell your house and move can be a difficult and daunting task. Homes are full of emotion and often are your biggest financial asset, so it’s understandable that a lot factors into the decision to sell! Here are the top three reasons my clients decide to sell their home!
Change in family size or dynamic often causes a move.
In this situation, a family’s lifestyle become the driver of the move. It can be as simple as you either have the space you need, or you don’t. Having children, blending families, divorce, or downsizing are all super common reasons for someone to sell their home.
A new or changed family need often causes a move or a renovation.
If a new family need emerges, often I find clients consider “should I renovate or should I sell my house?”. Think of scenarios like needing a home office, an additional bedroom or bathroom, a larger kitchen, a better backyard for the kids, or needing a more accessible home for an aging person or new/advancing disability. Depending on what the need is and what the current home offers, this can be a challenge.
In this scenario, I often recommend clients consider both options. Speak to a contractor about the potential cost of renovation. Then I recommend we have a consultation and discuss your home’s current value and what options could be out there to move into. Once you have all the information and options on the table, you can consider what is best for you. In some cases, a renovation makes the most sense. In others, a move is simply the best choice.
A change to a financial situation or goals can be a driver to sell your home.
Everyone’s financial position changes over time. Sometimes you get a promotion and need to relocate, sometimes it’s job loss that forces you to make a hard choice. But there are many other variables in the mix to consider. If you are opening a business or investing in a dream, perhaps refinancing your home or moving to something smaller that opens up capital for you is the way to go. Perhaps you have realized you are currently overstretched on your monthly mortgage or rent payments, and you need to move to something more affordable. Maybe you are retiring and just want to cash out and live out your retirement dreams! All of these are valid reasons to move. A realtor, in addition to your financial advisor, can be a great resource in helping you determine what options are available to you, so you can make a plan for your family’s finances.
If you’d like to talk through your situation, I’m happy to set up a time to chat. Always no obligation and no pressure – just an honest and professional opinion to help you make the best choice for your family’s life and finances. Reach out here!