Are you wondering why do people move and sell their homes? If yes, you should check out our list of reasons by clicking here.
Every year, over 32 million people in the US pack up and move to a new home.
Why do people move and should you become one of the statistics?
Before you put up a for sale sign and start packing, consider the main reasons why people move. Deciding to move is very personal, and it’s a big decision.
Feeling confident in why you’re moving and knowing that others move for that reason can make the decision easier.
Keep reading to learn the common reasons to sell a home and move.
New Job
A major reason for selling a home is moving to a new area for a job opportunity.
People usually move after finding a new job, but some people might move first in hopes of finding better opportunities. This can be beneficial for people who live in an area with very few jobs.
Other people move for different opportunities. They might move to enroll in an educational program at a college in a different area.
Others simply move for a change of scenery, a new challenge, or a fresh start.
Even if you don’t change your career, your job could be the reason for a move. This is usually the case if you have a long commute and want to live closer to the office.
Change in Home Needs
As your family or situation changes, your housing needs might also change.
Many people upgrade from their starter homes to have more space, especially when adding children to the family.
Others might go in the opposite direction. They decide their current home has too much space, or they prefer something smaller with less maintenance.
Home Upgrade
For some people, selling is a chance to upgrade to a nicer home. If your financial situation changes for the better, you might be able to afford a more expensive home with upgraded finishes and features.
Your home can be a status symbol, and many people want the pride of owning a nice home. For others, the reason for an upgrade is to have more comfort and entertainment options at home, such as a pool or theater room.
Financial Changes
Another common reason to sell is having difficulty paying your mortgage. Some people sell their homes and downsize to something more affordable if the mortgage is no longer affordable.
This can happen due to changes in your finances, such as a job loss. Sometimes it’s because of additional financial obligations, such as credit card debt, other loans, or medical bills. It could be due to a divorce or separation where neither person can afford the home on a single income.
Using a real estate company can be a good way to get out of a home and avoid falling behind on the mortgage if you’re in a difficult situation.
Selling a home is often preferable to a foreclosure, which can stay on your credit report for 7 years.
Even if you’re not close to foreclosure, you might choose to sell and buy something cheaper to put less strain on your budget.
Answering Why Do People Move
Why do people move? The reasons can range from personal to professional to financial circumstances. Exploring the common reasons can help you decide if it’s time to move.
Check our archives for more tips, whether you’re staying put or moving.
