On average, people stay in their homes for around 11-12 years before moving again. That’s essentially twice as long as they stayed just 20 years ago. Moving isn’t fun, and people often resist change. However, sometimes the benefits of moving just make sense. How do you know when it might be time to move?
1. Has Your Family Size Changed?
How many people were living in your home when you first bought it? Chances are that number has changed, or will change at some point. The National Association of REALTORS® (NAR) reports that about 28% of people who sell their home are moving because the house is too big, too small, or there’s been a change in their family situation.
Is your once cute little starter home bursting at the seams now? On the flip side, does your 5 bedroom house have too many stairs and requires too much cleaning and maintenance for empty nesters? If so, it might be time to move.
What worked before doesn’t have to be permanent. Whether you’re a “move-up buyer” or a “down-sizer”, you should consider your options. As you begin the process of moving your equity to your next home, speak with a real estate agent about your goals. They will be able to show you your best options.
2. Do You Wish You Were Closer to Family or Friends?
NAR also reports that 26% of people who sell their house are looking to move closer to family. There’s no denying the benefits of grandparents and grandchildren spending more time together. Further, caring for loved ones is much easier if you’re close. If this is you, it might be time to move.
A few outside-the-box options to consider: multi-generational housing, or houses with an Accessory Dwelling Unit (ADU). An ADU is a secondary, smaller housing unit located on the same lot as a primary single-family home. More and more local municipalities are loosening their zoning restrictions as a way to increase housing affordability.
3. Is It Time for a Job Change, or Even Retirement?
13% of people selling their home cite either a job change or retirement. Sometimes this means moving across town to shorten your commute, other times it means relocating to another state.
Moving to a new area can be stressful, but this is where your real estate agent comes in. They can help you decide what makes sense locally, and help you identify the best agent in whatever city you’re moving to. Tap into their resources for movers and rental company referrals.
4. You Know You Need to Move, but Have Concerns?
High prices and interest rates have been 2 major factors in people deciding to stay put the last few years. However, prices and rates have stabilized in the last year. If the national news has you concerned, remember all real estate is local. I’d recommend speaking with a local real estate agent who you trust. They can look at your actual situation and help you decide if your concerns match the reality of our current market. Remember, if you’ve been in your home for a while, you likely have signification equity which can make upgrading or downsizing more affordable than expected.
Making a move is a major decision, but understanding your options can clarify your path. If any of the situations above resonate with you, and you’re ready to dive deeper, you can reach me below!
Justin Rollheiser – REALTOR®
Keller Williams Realty | Diamond Partners, Inc.
13671 S Mur-Len Rd | Olathe, KS 66062
Mobile 913-800-7653
Office 913-322-5878
Comments or Questions?