The top five reasons why people decide to sell their homes
It is a big decision to decide to sell your home. It means moving yourself, and possibly your family too, from a home that you likely love to a new and unfamiliar one. Even if you only move locally you will still be moving away from your neighbours and the familiarity of your current home.
Behind this life-changing decision there is usually a compelling reason. Studies have shown that it takes on average two years from first thinking about selling to actually deciding to go ahead and put your property on the market.
Relocating
People need to relocate for a variety of reasons. They may have been offered a better job in a different part of the country; they may need to move to a catchment area for a better/more suitable school for their children; they may need to move closer to elderly parents or they may need to move to reduce the length of their commute to work.
Upsizing
As families grow they may simply outgrow the size of their home. They may have more children or if their children share a room they may decide that they need to have their own space as they get older.
Some families may grow in other ways, like older adults moving in with their grown-up children or new relationships creating blended families that need more space.
Downsizing
The opposite occurs as children start to leave home. Paying to heat and maintain a home larger than they need may spur empty nesters to move to a property that is a better size for their needs.
Cutting back on costs is another reason people may move to a smaller place, or a change in family circumstances, like a divorce.
Lifestyle
The most common lifestyle change is a move from the city to the countryside. It is commonly associated with couples starting families, moving from a busy place to an area where their children can have a bigger garden to run around in. The money from the sale of their compact city property can purchase them a much larger property outside of urban areas.
However, it is not only young families that make this move. Older couples at the end of their careers may choose to move away from the busyness of city life in order to have a more peaceful retirement and others may even choose to do the reverse, moving to the city once their children are grown and flown.
Equity Release
This can be done by selling and then buying a cheaper home. This is a big motivation for selling for downsizers who get the benefit of a more manageable home and a lump sum of cash to spend enjoying life. It can also be a motivator for people who love to renovate properties and then move on to the next project investing the equity they have released into their next property.
If you are considering moving please do give us a call on 0208 381 4970 and we will be happy to help you to decide on the best option for your family.