Deciding to move can be a tough call. There are many reasons why we choose to move. Moving takes a lot of preparation, organization, and hard work. Sometimes the decision to move is due to reasons other than needing to relocate.
When should you move?
Selling your home puts you in the market to find a home that better suits your needs. Using this buying guide can help ease stress and prepare you for buying your next home. Below are some circumstances where moving might be a better choice than staying put.
You don’t want to do renovations
If your home needs some serious renovations that you are unable or uninterested in completing, it may be better to sell. Finding a new owner who wants to take on the cost of improving the home or is looking to flip the property would be your best option.
Circumstances have changed
You may need to look for a new home if you’re retiring, your children are moving out, you’re welcoming a new child, or you’re getting a divorce. These scenarios could require you to upsize and find a home with more bedrooms or downsize, as you’re not using the space you have. There are many questions when buying a home, so working with a qualified realtor can help you find the best property to meet your needs and wants.
It’s time for a new neighborhood
Over time, communities change. Businesses, people, and the atmosphere in your community change, and you change along with it. Perhaps you bought your home as a young professional, and now you’re looking for a family-friendly neighborhood, or you’re switching jobs, and now your commute time has tripled. You’ll likely want to find a new home. A great reason to move is to find a good school for your children, reduce your commute, or improve your overall convenience.
Your family dynamic is changing
One of the most common reasons for relocating is when your kids are moving out or you’re welcoming new members into your family. Homes serve different needs for different times in your life. If your family grows, you may want more room, a yard, or a more family-friendly neighborhood. When your kids move away from home, it may be time to reduce the size of your home to make maintaining it more manageable.
It benefits you financially
If you can move and have it benefit you financially, that can be a win-win situation. You may be looking to downsize, which can reduce your mortgage, or you may be able to upsize in a different location for a better price. Ending up in your dream home is a considerable quality of life improvement. Getting the best mortgage rate is crucial in this situation to continue to improve your financial situation.
When should you stay in your home?
Staying in your current place can be the right choice for many reasons, and if the cons of moving outweigh the pros, you may want to sit tight and not make an impulsive decision. Here are some of the common reasons to stay in your current home.
You love your neighborhood and your property
If you are happy in your home and your community, you may want to consider staying put. While you could find your dream property elsewhere, it may not be in a great location or have access to amenities you know and love in your current community. If there are minor tweaks you want to make to your home to improve how you feel about it, consider making small improvements, taking on DIY projects around the house, or investing in more significant renovations.
It doesn’t fit your budget
If you can’t afford to move to a new home, you may need to stay put for now. Moving alone is costly, and it’s not worth jeopardizing your financial wellness if you can stay in your current home. If you need more space, you may be able to renovate your current residence for less money than moving. Depending on how secure your financial situation is, you may want to sit tight for a few years before moving. Start preparing by creating a moving budget to track expenses.
You are willing to do renovations
Falling in love with your space can be as simple as new paint colors and improved decor. Suppose you are ready to invest some money into making your home feel like yours and creating the perfect place for you to unwind and relax. In that case, moving may not be the right move for you.
It’s not the right time
When the market isn’t in the seller’s favor, it can be devastating if you’re trying to sell. Sellers can lose a lot of money, so in most situations, it pays to stay in your current home and wait for the market to turn around so you can make a profit.
If you’re considering moving, make sure it’s the best choice for you and your family. Whatever is ideal for your situation is the best choice you can make.
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Guest Blog by Kurtis Forster