One of the frequent questions asked is why someone is selling their home? This sign illustrates one reason, a spouse ran off with a 22-year-old!
If you really want to know that story you can go to the website mentioned on the sign. However, with over a million hits, I would suggest it’s time for some professional help. Hire a Realtor! The sign got me wondering if I could come up with 22 reasons someone would sell their home.
While I am sure there are more, consider if your situation fits any of these and call me if I can help you move on to a different relationship with real estate.
22 Reasons To Sell Your Home
Homeowner Divorce
As it is with the case of the sign, sometimes marriages break up and a home must be sold by court order, lack of adequate income or just the emotional scars of what may have happened there.
Home Size
As families grow or change when children move on, owners will find themselves with more home than they need or one so cramped they can’t stand each other. See #1 !
Home Condition
Most of us would rather have a cold beer than paint, repair the deck or re-shingle the house. All homes will experience some deferred maintenance and as time goes by systems like the HVAC and hot water heaters age. If you are selling your home, consider how your homes condition will affect the price and time to sell vs. your competition.
Neighborhood Change
Like condition, neighborhoods go through continuous change. They go from newly built to stable to declining to sometimes revitalization. What was a crime free area may now be crime ridden or perhaps a new freeway is now running through the middle of what was once a nice dead-end street.
Bad Neighbors
The neighbors from hell could move next door or they could be the types who come over every day and you wonder if they will ever leave. I know my neighbors had a hard time during my work on old cars years. That was before HOAs and I guess teenagers can now afford much better cars than I had!
Owner Job Loss
With the latest economic challenges it is now all too common to sell due to a job loss. Always try to be prepared with an emergency fund, continued education, or other options.
Job Relocation
Hopefully a job relocation is for a better opportunity but it is one of the top reasons people. If you see this as a future possibility, be sure to have an agent advise you concerning days on market and seasonal selling differences.
Property Taxes
They seldom go down. Sometimes people are taxed out of their home when they have too much square footage, bad tax appraisals or neighborhood changes. Always evaluate your tax statement and dispute it if it’s out of line. Your Realtor can help you determine if its worth the fight.
Top Of Home Market
Finally a good reason to sell! If you are in a hot market, have lots of equity and your personal situation allows it, selling at the top is always a good plan. You will never really know when that is but you can guess pretty close. You may need another home but cashing out will give you the option of moving to a much lower cost area.
Owner Health
Owners may experience declining health and not be able to care for their current home. Consider this when buying your home. Do you really want stairs vs. a ranch style? Maybe a condo close to health care is a better option than a 40 acre farm in the country.
Travel
Sometimes a life situation develops that affords the owner extensive travel opportunities. They buy a motorhome and travel the country or take frequent trips to locations around the world. When they return they discover their idea of a dream home has changed.
Schools
One of the top reasons to buy a home is the location of highly rated schools. When the children move out of the nest or change schools you may decide to relocate. Having your home is a popular school district is a huge selling point.
Start A Business
Many small businesses are started in the garage or by selling a home to generate capital. This may be a perfect time for a buyer to get a good deal. Overlook the cookies or the computer parts stacked everywhere. Mrs. Fields or Steve Jobs may need a larger facility!
Upgrade
An owner could be trading up for that new home smell, need a three car garage to store the boat or just be sick of the floorplan. Often a new job, windfall or inheritance will let a current owner upsize and upgrade.
Amenities
Sometimes you just want your own man cave for a pool table, rain head shower or stainless appliances and granite countertops.
Low Interest Rates
Now is the opportunity of a lifetime concerning mortgage rates. It’s very attractive to sell if you can have those amenities, more space and a better location for the same or less money per month.
Estate Sale
Obviously this is not going to be your favorite reason for selling but it has to be done. Estate property frequently is outdated with deferred maintenance that the heirs want sold quickly. They don’t want to deal with the issues or the emotions. For buyers & investors, this can be an opportunity to buy below market . They can also be a listing that expires due to disagreement between or overpricing by the heirs.
Age
– There is always the owners age but it can also be the age of the house that ends up in a sale. Sometimes it just doesn’t make economic sense for an owner to pour money into a home that needs expensive repairs or upgrades.
New Home
When the decision has been made to buy a new home, normally the current home will have to be sold first. This is another opportunity for buyers if they know the seller is paying two mortgage payments.
Stigma
The last thing you want is a home that has been stigmatised by some traumatic event. It takes a long time to forget the Amityville Horror or a home that all the neighbors refer to as the old crack house.
Eminent Domain
– Sometimes the government wants to build city hall, run a pipeline or build a major road right where your bedroom is. If so, consider yourself lucky because you “might” be able to get market value. The owners who really lose are the ones that end on the fringe of the development. Make sure you get what you deserve.
Environmental
They may move the new city dump or nuclear power plant next door or you may get lucky and be like the Clampetts. Wouldn’t it be nice to discover some black goo oozing out of your ground that turns out to be black gold?
Whew – that was harder than I thought! Whatever the reason someone needs to sell there needs to be a willing and able person or entity willing to buy.
Keep in touch with a good Realtor (I know one) to understand the market conditions and obtain professional advise if you need to sell or buy a home. Those 22 reasons to sell your home are also 22 reasons for someone to buy it! Call 469-233-1234 to obtain the services of a good Van Alstyne Realtor!
