Families most often don’t stay in the same home for life. As situations change, so too do your needs for how and where your family lives. Here are a few signs that might be telling you it’s time to sell and find something new.

You’ve Added More Kids or Other Family Members

A once spacious place can feel tight as kids get bigger or as more kids come along. Kids tend to need their own rooms as they get older. And sometimes aging parents need to move in. If you feel a lack of privacy or a lack of sheer square footage, it may be a compelling sign to sell and move on.

Kids Will Be in School Full Time

Perhaps you bought a home in a location you loved right before your first child was born. If you didn’t put much thought into the school district, a child entering school for the first time could be a reason to consider a move. Parents usually have a variety of reasons for where they want their children to attend school. Getting the school system you want for your kids is often a primary determining factor for where you’ll move.

Your House Greatly Appreciated in Value

Due to the improvements you’ve made or to an ongoing seller’s market, your home may have increased significantly in value. Many home owners like to cash in on the financial appreciation while the market is in their favor. And while a seller’s market probably means the next home costs above what you last paid per square foot, you might have more to spend because of large net gain from your current home’s sale.

You’ve Got Home Equity on Your Side

Equity in your home is a great reason to move. As you pay down your mortgage and home values increase, being able to sell for more than what you owe is the ideal. Figuring out your equity isn’t too complicated, but it’s best to enlist the help of an experienced Realtor® as he’ll have the most accurate information on current market prices of homes in your area.

The Nest is Less Full

As kids become independent adults, they move out. Parents can be left in a home that’s too big for their needs and more expensive than necessary to maintain. Sure, you still want space for family visits, but that doesn’t mean you can’t find a more suitable home for life’s changes. Embrace the freedom.

You Have Too Much House Responsibility

Just as families often need more house to satisfy their needs, other families discover their current house is too big, too expensive, or too high maintenance. Whether it’s reducing financial responsibility or a desire for an easier lifestyle, switching to a more affordable or a lower-maintenance home may be just what your family needs.

You’re Emotionally Ready to Sell

Perhaps you’ve had selling on your mind for a few years but you just weren’t ready to go through the process. Taken seriously, selling does require a lot of effort. It means clearing out years of clutter, keeping a home maintained for potential buyers, listening to reasons why they didn’t want your home, and leaving the home where years of precious memories lived. It also means going through negotiations and a whole new home search of your own. People who are emotionally ready to be in a new place are ready to sell.

Real Estate Term of the Week

Home Equity: The difference between the home’s fair market value and the outstanding balance of all liens on the property. The property’s equity increases as the debtor makes payments against the mortgage balance, or as the property value appreciates.

Platinum Service Realty