Are you on the fence about selling your home? If so, check out some of the reasons other homeowners are choosing to sell today despite trading in their lower mortgage rate for a higher one:
Some homeowners may not want to sell their homes because they don’t want to lose their historically low mortgage rate on their current home. You might feel the same way if you’re considering selling your house.
Even though mortgage rates are higher than they were a few years ago, there are other things to consider when moving that don’t involve money. In other words, your mortgage rate is important, but you may have other things going on in your life that make a move necessary, no matter where rates are today. As Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), says:
Home sellers have historically moved when something in their lives changed – a new baby, a marriage, a divorce or a new job. . . .
If you’re thinking about selling your home, you might find it helpful to look into the other reasons people are moving today. Realtor.com’s Survey asked people who had recently sold their homes why they did so. In the graphic below, you can see how those homeowners reacted:
As the picture shows, the main reasons people sold their homes recently were a desire for something different or the fact that their current home no longer met their needs. Also noteworthy was whether or not they could work from home and if they needed a home office or were tied to a specific office location. They also wanted to be close to their family.
The results of the realtor.com survey are summed up as follows:
The primary reason homeowners decided to sell in the last year was the realization that, after so much time spent at home, they wanted different features and amenities, such as walkability, outdoor space, pool, etc. . . .
If, like the homeowners they talked to, you want features, space, or amenities that your current home can’t give you, it may be time to consider selling your home.
Even with the mortgage rates of today, your needs and wants may be enough to make you want to make a change. The best way to figure out what’s best for you is to work with a trusted real estate professional who can give you expert guidance and advice throughout the process. They can help you understand your choices so you can make a confident choice based on what’s most important to you and your family.
Summing It Up
Even though money is a big reason to or not to move, there is often a lot more to think about. Reasons that have nothing to do with money can also be very important. Let’s talk today if you need help figuring out the pros and cons of selling your house. If you have questions, please don’t hesitate to contact us at 404-410-6465 or visit CompleteRealtyTeam.com