Do you want to sell your property this year? contemplate what motivates you to contemplate moving as you make your decision. A recent realtor.com study inquired as to why homeowners are considering selling their homes this year. Here are the top two explanations (as seen in the graph below):
Let’s break down those reasons and see whether they connect with you.
1. I Want to Capitalize on the Current Market and Profit
When you decide to sell your home, you’re probably thinking about how much money you’ll make. So, here’s some good news: according to the most recent data, the average seller can expect a high return on investment when they sell their home. According to ATTOM:
“The $112,000 profit on median-priced home sales in 2022 represented a 51.4% return on investment, up from 44.6% last year and 32.8% in 2020.”
Even if housing prices have fallen marginally in certain cities, they are still much higher than they were only a few years ago. Work with a local real estate agent to understand what’s going on with property prices in your region and the current worth of your home. They will be able to provide you the most accurate estimate of how much you may profit if you sell this year.
2. My current residence no longer meets my requirements.
The typical person has lived in their current residence for 10 years. When you consider how much has changed in your life since you moved here, that’s a long time. And, in most cases, such adjustments have a direct influence on what you require in a house. Whether it’s more (or less) room, different features, or a location closer to work or loved ones, your existing home may no longer tick all the boxes for what you consider to be home. If this is the case, it may be time to contact a real estate professional to discover a better match.
If you’re considering selling your home, there’s a solid reason for it. Contact a local real estate adviser to make a move that will help you achieve your objectives this year.