Considering a change of scenery?

Before you pack up and move, it's worth exploring what's driving your desire for a new abode. A recent Realtor.com survey delved into the motivations behind home sales this year, revealing two primary factors (check out the infographic below):

Let's delve deeper and see if these reasons resonate with your own motivations:

1. Pursuing Profit Contemplating selling your home often brings a barrage of questions. Fortunately, recent data suggests that most sellers are reaping substantial profits from their sales. According to ATTOM, a property data provider:

"Home sellers pocketed a median profit of $121,000 from typical sales in 2023, equating to a 56.5 percent return on investment."

This is no small feat. Contributing to this windfall is the meteoric rise in home prices during the pandemic. With demand outstripping supply, prices surged, resulting in substantial gains for sellers.

While the pace of appreciation has slowed, home prices continue to climb, albeit at a more moderate rate. This ongoing appreciation bodes well for your financial prospects. Any profits accrued can alleviate some of the current affordability hurdles when securing your next home.

Curious about your home's current value and market dynamics in your area? Reach out to a local real estate agent for insights.

2. Family Matters Perhaps you're considering a move to be closer to family, whether to provide care for elderly relatives or to foster stronger familial bonds. Alternatively, you might yearn for shared moments on special occasions like birthdays and holidays.

Relocating to be nearer to loved ones fosters connectivity and ensures you're not missing out on significant milestones in their lives. If geographic distance is hindering your ability to be present, it might be time to engage a local real estate agent to find a residence in close proximity. As per the National Association of Realtors (NAR):

"A skilled real estate agent will navigate your home search impartially, aiding you in meeting your purchasing objectives while adhering to your financial constraints."

In Conclusion

If you're contemplating putting your home on the market, there's likely a compelling rationale behind it. Let's have a conversation to ensure you're equipped with the guidance necessary to make a well-informed decision that aligns with your objectives for the year.

5-6-2024