On average, an American family moves every 5 to 7 years after selling their home. What are some of the most pressing reasons for homeowners to sell their properties and moving on? People who have been living in the same house for well over 15 or 20 years fail to understand this phenomenon.
Following are some of the top reasons why people sell their homes and look for houses in other locations:
- Small-sized home
This is an especially true reason for people who buy their homes for the first time. Before making the purchase, they’re anxious about reducing the costs; the end result is moving in a property that is too small to accommodate their entire family. To make things right over the course of time, such families typically sell their houses and relocate to other homes appropriate for housing their entire families.
- Home Upgrade
As humans, it is only natural that we desire the very best for ourselves. After living in a house for several years, you would naturally want to shift to a better locality or perhaps a more spacious home.
- Rectify Purchase Follies
Purchasing a home is a very difficult situation. No matter how hard you plan for it, things can still slip out of hands. Overtime, when you rethink the past decision, you realize the mistakes you made and are naturally inclined to rectifying those follies. For some homeowners, this means selling their property and going through the whole process of finding another home and moving into it just for the sake of fixing the earlier mistake.
- Job Transfer/Promotion
Job transfers often result in major lifestyle shift. If you own a house, you would consider selling it to settle down in the newly appointed area.
A promotion in your job will pretty much motivate you to improve your living conditions; naturally, you would want a more upscale locality that reflects your newly acquired ‘status’.
- Relationship Status
When you enter a new relationship, you want your partner to move in with you. If both of you own separate houses, one would sell it away to share the accommodation with the other. At the same time, breakups can also cause homeowners to sell a mutually owned home and start afresh and live their independent lives.
- Changes in Neighborhood
If the neighborhood deteriorates, be it physically, socially or economically, you would definitely consider selling the property and finding a better neighborhood. It could be a mean, unfriendly neighbor who just moved in, or a freeway that has just been constructed in the green patch next to your house where your kids used to play.
- Move Closer to Family
Naturally, as people age, they long for family and relatives to be around them. Isolated locations are the least sought after option for couples who have crossed their youth. Naturally, this leads to selling the home and moving closer to siblings or kids.
People are encouraged to move into adult-communities to spend the post-retirement phases of their lives, where they enjoy the basic amenities of life, such as adequate healthcare, golf courses and weekend gatherings. This also results in selling the house and moving into the new communities.
About the author: Mike Pannell is an Fort Worth Texas real estate agent helping both sellers and buyers complete their transactions. For more blogs & articles about the Fort Worth real estate market & Mike Pannell please visit our Fort Worth Estate blog….