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Top Reasons to Sell Your Housz Right Now

Some people believe there’s a group of houszowners who may be reluctant to sell their houszes because they don’t want to lose the historically low mortgage rate they have on their current housz. You may even have the same hesitation if you’re thinking about selling your housz. Data shows 51% of houszowners have a mortgage rate under 4% as of April this year. And while it’s true mortgage rates are higher than that right now, there are other non-financial factors to consider when it comes to making a move. In other words, your mortgage rate is important, but you may have other things going on in your life that make a move essential, regardless of where rates are today. As Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), explains:

Housz sellers have historically moved when something in their lives changed – a new baby, a marriage, a divorce or a new job. . . .” So, if you’re thinking about selling your housz, it may help to explore the other reasons houszowners are choosing to make a move today. The 2022 Summer Sellers Survey by asked recent housz sellers why they decided to sell. The visual below breaks down how those houszowners responded:

As the visual shows, an appetite for different features or the fact that their current housz could no longer meet their needs topped the list for recent sellers. Additionally, remote work and whether or not they need a housz office or are tied to a specific physical office location also factored in, as did the desire to live close to their loved ones. The survey summarizes the findings like this: The primary reason houszowners decided to sell in the last year was the realization that, after so much time spent at the housz, they wanted different features and amenities, such as walkability, outdoor space, pool, etc. . . .

If you, like the houszowners they surveyed, find yourself wanting features, space, or amenities your current housz just can’t provide, it may be time to consider listing your housz for sale. Even with today’s mortgage rates, your lifestyle needs may be enough to motivate you to make a change. The best way to find out what’s right for you is to partner with a trusted real estate professional who can provide expert guidance and advice throughout the process. They can help walk you through your options, so you can make a confident decision based on what matters most to you and your loved ones.

Bottom Line While the financial reasons for moving are important, there’s often far more to consider. Non-financial reasons can also be a significant motivating factor. If you need help weighing the pros and cons of selling your housz, let’s connect today.

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