Seller Tips: Here Are the Top Reasons Why People Decide to Sell their Homes

Richard Payne
Richard Payne
Published on April 6, 2018

Did you know? Most home owners sell and move, on average, every five to seven years. Why so often? People who have lived in the same home for the past 30 years may have a hard time understanding this phenomena. They are shocked that people move so often. So what are the top reasons why people sell and move?

  • 1) Home is too small. First time home buyers often outgrow their “starter” homes. Increased family size is the main reason homeowners say they need a larger home.
  • 2) Upgrade. The grass is greener on the other side. People often want what they don’t have and long for a bigger, more expensive and grander, home.
     
  • 3) Fix a purchase error. Owners might believe they made a big mistake when purchasing their present home and want to rectify that mistake. Maybe they thought they could get by without a back yard but yearn to garden, or the dining room in the center of the house annoys them, or they no longer enjoy the noise from the planes flying overhead. 
     
  • 4) Job transfer. Relocation makes it necessary for many to pull up roots and move. If the commuting distance exceeds an hour, most people would prefer not to spend two hours in traffic every day.
     
  • 5) Personal Relationships. Moving in with a partner or getting married can mean one of the parties will need to sell, especially if both owned homes prior to the commitment. On the other hand, break-ups cause owners to sell as well for three basic reasons:
    1. One party may need to buy out the other and not have the cash available.
    2. The home may not be affordable to sustain on one person’s income.
    3. The home holds bad memories, making a fresh start desirable.
       
  • 6) Neighborhood changes. The neighborhood might have changed for the worse, economically, socially or physically. For example, maybe a highway was constructed nearby. Maybe the next-door neighbours receive visitors who arrive at 2 AM. Or they have hung sheets over their windows while a skunk-like odor permeates the air. 
  • 7) Empty nest. The kids have grown up and moved out. The owners want a smaller home, so decide to sell. The older you get, the harder it is to keep a big house clean. Down sizing is very popular among certain age groups.
     
  • 8) See family more often. Some people want to be closer to their family as they age and will move to be near relatives. Parents want to be near children. Grandparents, near their children and grandchildren.
     
  • 9) See family less often. To put more distance between the home owners and relatives. Some might move out of state to keep harmony within the family. Dysfunctional families have been known to blossom being separated.
     
  • 10) Retirement. Active-adult communities are attracting many buyers over the age of 55. These planned communities have golf courses, club houses, workout facilities, week-end social gatherings and more, all designed for people over 55.
     
  • 11) Health problems. Physical ailments such as knee or back problems make it difficult for an aging population to climb stairs in a two-story, so a bungalow may be more practical. A trade-off solution for many elderly people who don’t require round-the-clock care is to buy a condo or move into assisted living housing.
  • 12) Deferred maintenance. Some people don’t want to put on a new roof, replace the siding or buy a new furnace, so it’s easier to sell and buy a newer home. When you figure the life of most home systems is about 15 years, it could make sense to get out before everything goes haywire.
     
  • 13) Home improvement perfection. A small segment enjoys fixing up and spending time, money and effort on remodeling, and once the work is completed, these people become restless because there is nothing left to do. 
     
  • 14) Cash in equity. Some home owners can’t stand the fact their home is worth all that money because that money is not in their pocket. These people would prefer the money to enjoy life, so decide to sell up.
     
  • 15) Lifestyle change. Others are simply tired of owning a home and would prefer to travel, pursue a hobby or be less responsible. So, for these people, home ownership loses its priority status and turns into the ticket for realizing dreams.

Whatever your reason for selling your Halifax home, why not get in touch and let’s chat further. Once we know your why, we can work together to attract the right buyer for your home – and that comes from experience, creating a profile, putting together an exceptional online marketing package to attract the perfect buyer for your home. Here’s what I do differently.

Contact Me!

chat_bubble

1

X