It’s often difficult to determine when it is the right time to sell your home. According to the National Association of Realtors, the average home seller remains in their home for ten years. In 1985, it was just five years.
My husband and I have lived in our home for over twenty years. I toyed with the idea of moving to a single-level home. But I love my home, the yard, and the pool. I have a home office in my guest house and a fourth bedroom that was converted to our gym. We just don’t have a compelling enough reason to move, and while out and about on broker’s caravans, I just haven’t seen anything we can afford that I love.
People move for a variety of reasons. Some move every few years to maximize their capital gains deduction. I don’t consider my home a business venture, so moving every few years is frightening.
So when is the right time to sell your home? Perhaps you have outgrown the space. Your family has grown, but not your home. These are happy clients because they are excited to move. On the other hand, we have had home sellers moving for unfortunate reasons. Sometimes, they can no longer afford their home. I have sold homes for clients that have had tenants trash them. Some home sellers are just tired of being landlords.
Some sellers are simply downsizing and depending on their circumstances, many are often excited to begin a new chapter. Deciding to sell your home is a major decision, one not to be taken lightly. I often have clients consult me years before they are ready to make their move.
