My Top 10 Reason Why Homeowners Sell & Move!

By
Real Estate Agent with Zephyr Real Estate 01759191

1.  *Job Transfer

In many cases the main motivation behind a family packing up and moving is a more lucrative career move for either spouse, or forced to move because of the job itself is being relocated.  Families fall in love with a home and neighborhood but the career trumps it all, it is the livelihood that makes owning a home even possible.

2.  * Cash In on Equity

There is no greater feeling than being a homeowner, let me rephrase that.  No greater feeling than being a homeowner with built up equity in that home, meaning they purchased it at a certain price and now it has increased in value(appreciation) and paying the loan increases the overall value of the home because you owe less and it is a huge motivating factor as to why homeowners make the decision to sale and take advantage of the equity ..maybe buy an investment property, payoff other bills, help pay for one of there childrens tuition.

3.  *Upgrade to Bigger Home

When young families finally have the opportunity to make the jump to ownership as homeowners their means financially are stretched to the maximum, which in turn at times they settle for a smaller home for their first purchase.  As the family grows and financial situations change and improve so will there buying power and desire to upgrade to a bigger home.  Families tend to outgrow their homes by either another family member living with them or they decide to have more children in turn needing a much bigger home to suit there new additions to there already growing family.

4.  *Neighborhood Evolution

Neighborhood changes can be a big factor in a homeowner deciding to move.  For example if when they first moved into neighborhood it was a peaceful and tranquil area, but after many years there have been changes that just don't sit too well with the long time owners.  Loud and unkind neighbors can be a problem, especially if it gets to the point of police officers being involved or just the crime rate has gone up in recent years and you just don't feel as safe anymore.  Possibly a freeway overpass was built recently and the noise is unbearable and is the final breaking point to your decision to move on to greener pastures.

5.  *Retirement

Living in a home for long periods of time, going to work every morning never really lets you fully appreciate the home  you currently have.  Once you retire you are home more often, you put more effort into making it your own, but with retirement usually comes with a slight decline in income.  It can make it a little harder to afford to live in your current large 4 bedroom home and the utilities seem to increase now that your home more often.  Retirement really puts things in perspective for your family, it brings out the desire to downgrade and maybe do things you never did while working, traveling with the family, seeing the world.

6.  *Health Issues

Health is always a big decision maker in life, and plays a huge role in a decision whether to move or not.  With age comes more frequent visits to the doctor and having to upkeep a big home makes it very difficult if you have a health ailment, you start to factor in "what if something happens to me, do I live to far away from  a hospital".  Medical bill accumulate making it harder to put money aside to fix and maintain your home. Is it time for me to move closer to town and find a home that requires less upkeep and closer to hospitals ...for example a nice condo or townhome in the nearby downtown area of the city you live and love!

7.  *New or Changing Personal Relationships

Relationships in a persons life constantly change during our life span, relationships and home ownership tend to go hand in hand, cycles of life I call it.  First you purchased home while single, then married, soon after follows the children and your personal relationships will continue to constantly evolve and change new friends, different interest hobbies.  Unfortunately, also in some cases personal relationships can have an adverse affect on your decision to move, be sure to take some time and think it all the way through.

8.  *The Children Leave the Nest

An empty home can at times be a peaceful and quaint home, especially when the children are all grown up and finally go off on their own, you have a sense of relief they can do it and happiness and sadness equally.  It also can get lonely in such a big house and often times its just to much house for just good old mom and dad so they want to travel more ..spend less on mortgage see the world ...well they finally decide to move to a senior community of condos in florida ...once again a truly defining motivating moment that makes you make that tough decision to sell and move on to bigger and better things, but a smaller more cost efficient home.

9.  *Lifestyle Change

Changes in ones lifestyle can also lead to making the decision to put your home up for sale.  Say you suddenly decide you want to sail the seven seas buy a boat and a captain's hat, well no need for that home you have in San Francisco for the past 20 years, "I'm going to sale", and sail the world with my new girl friend, we met on facebook you know".  The lottery in your state just called you and said you have just won 20 million dollars, suddenly the nice home in Bernal Heights doesn't seem so great anymore and you say to yourself, "I always wanted to live in Hillsborough in a small but lavish mansion, well I just won 20 million I can buy two next to each other, one for me, and one for the family ...Now thats a lifestyle change, common, well not so much, but it does happen!

10.  *Too Long Repair List

In many neighborhoods such as San Francisco homes tend to have been around for close to a century and with time the homes age decay and rot.  In return require homeowners that live in these historic homes spend their fare share of money on upkeep, maintaining, and fixing what is old and for some people the list of things to repair can be a rather daunting and expensive task.  "This place is beautiful and all but it's just going to cost me to much to update, it was built in 1900, time for us to move on and buy a newer, more energy efficient and less expensive to maintain home!

*Final Thought!

Reasons and motivations that make us get up and move from our current familiar home vary but in the end boil down to a persons constantly changing financial and personal life.  Average american moving from their home every 5-7 years, financial and personal situations are constantly changing and evolving for better or worse.
"A home doesn't make the person, the people who live there make it their home, make it their own, for how long?  you will know when the time is right.  Right?

Comments (1)

Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

I think you compiled a very good list! Having moved 5 times most of them were for job reasons. My parents moved for neighborhood changes.

Feb 10, 2011 07:18 AM