Why Do People Sell Their Home?
I know a couple who have had the following conversation for thirty years. He would say: “We should sell our house.” And she would ask: “Where would we go?” This couple is not typical. The average American will buy a home or sell a home four to five times over the course of their lives. And this sort of activity occurs despite the same questions my friends have asked of each other during those three decades. Why do people sell their home? And why do some stay?
What my friends do not realize yet are the odds are tilting in favor of selling. The fact that those same statistics point towards this inevitability doesn’t make the decision to sell easier. In reality, these two will end up searching for an answer to her question and although he has been asking for this moment for a long time, it will not be easy to answer. But, why? Why do people wait for so long? And what changes? Why is ‘where to go’ so difficult to answer?
Homes are bought and sold for a variety of reasons. In most cases, the top reasons to buy a house revolve around proximity to work (one of the most important factors in happiness in the new house), a better neighborhood (often the same thing as buying for better schools), a bigger home or a lifestyle change (marriage, divorce, or children).
Homes are often sold for the same reasons or so it might seem. People sell because of proximity to work (or because they no longer need to be close to an old job because they retired), a better neighborhood (more focused on activities and less on the school district), a smaller home or a lifestyle change (marriage, divorce or grandchildren).
Of course, I’m generalizing. But the truth is, you will be a seller, eventually. A small percentage of home owners will opt to constructing their estates to keep the home in the family or to avoid the specter of high medical bills and Medicare/Medicaid claims. You should keep this in mind: When you do decide to sell, choosing the right reason will be helpful to the next step.
For older home owners, health issues might be at the forefront of the decision. It is also possible that the upkeep on the current home is not affordable or the home owners’ health interferes.
Because neighborhoods change, the shift away from the original reasons the home was purchased may suddenly be front and center.
The longer you own a home, the greater the chance a lifestyle change is the reason for putting your home on the market. It might be retirement, a death in the family, or simply the realization that you would like to be closer to your extended family.
Once you have answered these questions, I can help with the answer “Where do you go?” In fact, I have the right place for you now.
How can we assist you today?
On behalf of The Jones Group @ Sunriver Realty
Nola Horton-Jones, Principal Broker/Realtor | ABR, C-RIS, e-PRO, GREEN, RSPS, CCIM Candidate
Bryce Jones, Principal Broker/Realtor | ABR, CRS, e-PRO, GREEN, GRI, RSPS, SFR
The Jones Group @ Sunriver Realty | 57057 Beaver Drive | Sunriver, OR 97707
N Mobile: 541-420- 3725 | B Mobile: 541-420- 4018 | Fax: 541-593- 5123
Licensed in Oregon