4 Most Common Reasons Why People Sell Their Home
Michelle and I find that people sell their homes for many different reasons...
For example, some homeowners may need to relocate for a job, or some may want a larger home for a growing family needing more space. Here in Irvine, many families with children choose our area for the excellent schools and communities, which is one of the reasons that brought us to the Woodbridge area here in Irvine. Even an “empty nester'' may choose to downsize once their children have moved on. Irvine definitely has something for everyone.
The reasons for wanting to sell your home could influence the approach you take to selling. If you need to relocate for a job or to live closer to family, you might feel more pressure to sell your home more quickly. If you simply want to move to a different neighborhood, you may feel comfortable letting your house sit on the market while you search for a forever home. No matter why you want to sell your home, Michelle and I can help.
They Plan to Relocate to a Different City for Career Opportunities
In 2022, relocating for work is the most common reason people are selling their homes. More than 36.9% of people say they move for career advancement and the opportunity to make more money. They may transfer to a new division or relocate to a new company all together. A person may consider moving to a new city when an employer offers them a promotion and/or a significantly higher salary.
Moving for a job opportunity we found usually applies to young and mid-career individuals aged 25-34 and those 35-44 are most likely to be willing to relocate. This makes sense because recent graduates often leave their college towns to find employment in other cities.
Many employees report receiving assistance with moving expenses and compensation for making “the move”. This affords young professionals to start their careers or move into management positions without spending large amounts of money on the relocation.
Nearly 37% of people between ages 35 and 54 move for new job opportunities. Importantly, about a quarter of home buyers are in their 30s, and the average home buyer is 45 years old. Michelle and I find many of these people need to sell homes quickly so they can relocate and purchase property in a new city and. paying two mortgages at the same time would result in significant financial strain, so it’s important to sell as soon as possible.
Families call Michelle and I because they require a Larger or Smaller Homes to Match Their Needs
The housing needs of a family can change drastically over time. A single person may only need a small home with one or two bedrooms. A couple may want a slightly larger place to live. Michelle and I are happy to help. There are so many options here in the Orange County community to choose from. Couples frequently sell their “starter homes” when they have children or change their lifestyles.
A couple of decades later, people may find themselves in the opposite situation. Now, they may want to sell homes, so they don’t need to care for such large properties. Additionally, downsizing often means spending less money on property and taxes. As people near retirement, they recognize the benefits of selling larger, costlier homes in favor of smaller homes with lower values. (Lower property values lead to paying lower property taxes in most places.)
They Want to Live Closer to Loved Ones or Amenities
Life can take you all over the world. Eventually, though, you might want to return to your hometown or explore other amenities that cities and states have to offer. About 50% of people say they stay in their hometowns because they want to remain close to family and friends. It makes sense to assume that plenty of people also move back home for the same reason.
They Don’t Like How the Neighborhood Has Changed
A neighborhood’s personality can change a lot within just a few years. As new businesses and people move into the area, your community might start to lose some of the characteristics that attracted you when you bought your home. At whatever stage in life you find yourself, I and Michelle can help you find the perfect home for you. A neighborhood’s personality can change a lot within just a few years. As new businesses and people move into the area, your community might start to lose some of the characteristics that attracted you when you bought your home. At whatever stage in life you find yourself, I and Michelle can help you find the perfect home for you.
Sell Your Home With Help From a Professional
No matter why you want to sell your home, an experienced professional can help you make a plan that matches your unique needs and connects you to potential buyers.
Need advice? Let’s talk about the best way to sell your home!