Contemplating whether to sell your home this year? As you ponder this decision, reflect on the factors driving your consideration to move. A recent survey from Realtor.com delved into why homeowners are contemplating selling their homes in the current year.
Let's analyze these reasons and explore how they may resonate with you.
1) Capitalizing on the Favorable Market and Garnering a Profit:
When selling your home, it's natural to consider the potential return on investment. The good news is that recent data indicates that the average seller can anticipate a substantial profit from their home sale. According to ATTOM,
"The $112,000 profit on median-priced home sales in 2022 represented a 51.4% return on investment compared to the original purchase price, up from 44.6% last year and from 32.8% in 2020."
Although home prices may have slightly decreased in certain markets, they remain considerably higher overall compared to just a few years ago. To understand the current status of home prices in your area and the current value of your home, it's best to reach out to us for some guidance so you are in the position to make an informed decision. We are able to give you a an accurate idea of the the potential gains you could achieve if you decide to sell this year.
2) Your Home No Longer Meets Your Needs:
On average, individuals tend to stay in their homes for about ten years. However, a lot can change in your life during that time period. Life events, personal circumstances, or changing preferences may result in your current home no longer meeting your needs. Whether it's a need for more space, fewer responsibilities, different features, or a location closer to your work or loved ones, your current home may not align with what you envision as your ideal home. If that's the case, it may be worthwhile to collaborate with Scott and his team to find a better-suited home that meets your current needs.
In Conclusion:
If you're contemplating selling your home, there's likely a compelling reason driving your decision. Connecting with a local real estate advisor can help you make a well-informed decision and take steps towards achieving your goals this year. So, take the time to reflect on your motivations and seek professional guidance to make a sound decision regarding selling your home. The Scott Smolen Team can help you navigate the current housing market and put you in the best position to net as much as possible out of your sale if you decide to sell.
Let's make this year a successful one for you! So, go ahead and take the first step towards your home selling journey and get an idea of what your home is worth here.
