Do you wish you had taken the time to consider buying a bigger house back when you purchased your current home? This is a regret that many Americans have.
According to a study conducted a few years ago, about one-third of people say they wish they had bought a bigger house before moving into their existing home. Even though American homes are bigger now than ever before—the average one is over 2,700 square feet—a large number of people are unhappy with the size of their homes.
When it’s time to move on from your current home, you’ll be right there with them. Your family will have outgrown your home, which will prompt you to want to look for something a little bit larger.
There are also other signs that’ll let you know you’re ready to sell your house and buy a new one. Check out five of them below.
1. Your Home Isn’t in the Best Location for Your Family
Did you recently get a new job that has you spending three hours in the car every day to get to and from work? Or did one of your kids recently start attending a high school that’s located 45 minutes from where you live?
You should seriously consider selling your home if you answered “yes” to either of these questions. Even if you love everything about your home, it’s clear that the location just isn’t a good fit for you anymore.
By buying a home closer to where you work or where your kids go to school, you can make life easier on your family. You can also cut down on unnecessary auto repair and fuel costs if you’re putting tons of miles on your cars thanks to the long drives you’re taking on a daily basis.
2. It No Longer Fits Your Lifestyle
When you first moved into a home situated in the middle of a busy city, you may have enjoyed everything about it. You loved having cafes, restaurants, and shops just steps from your front door, and you couldn’t imagine living anywhere else!
But now that you have kids, you might not have time to enjoy all those things anymore. You also might not have the desire to partake in them even when you do have a little bit of extra time on your hands.
It’s clear that your home no longer fits your lifestyle when this is the case. You’re better off finding a home that will work better for the lifestyle you’re living now as opposed to the one you used to live.
When it’s time to move on from a house you once loved, it won’t be easy. But you’ll be able to lead a better life by finding a home that fits your family’s current needs.
3. It Needs a Bunch of Work Done to It (and You Don’t Want to Do It!)
Does your home have a kitchen that needs to be updated, bathrooms that could use some remodeling, and a lot of other upgrades that could be done?
You can increase the value of your home by making these upgrades. But at what cost? It’s not easy to have a bunch of work done to your home while you’re living in it, especially if you have younger kids.
Instead of trying to tackle a long list of home improvement projects on your own, think about moving into a new home that doesn’t need any work done to it. It’ll give your family everything you need without much work on your part.
4. It’s Worth More Than You Owe on It
If you’ve been living in your home for quite some time now, there is a decent chance that you might owe less on it than it’s worth. You may have built up a sizable amount of equity in it.
You can cash in on that equity by selling your house and moving into a new place. You can use your equity to purchase a bigger home or a home with more features jampacked inside of it.
You can also stay put in your home and continue to build up equity. But if you take that approach and the home goes down in value over time for one reason or another, making the decision to stay in your home could come back to bite you.
Whether you’re planning on selling your home anytime soon or not, it’s always a great idea to keep an eye on the value of your property. It could skyrocket at any time and affect your future plans.
5. It Has Too Much Room in It
As we mentioned earlier, there are a lot of people who wish that they had more room in their home. But there are also plenty of people out there who have more room than they know what to do with.
If you’re an empty nester or someone who bought a home that was way bigger than you needed it to be, you might have too much space. It can force you to maintain parts of a home that you’re not even using.
By downsizing to something smaller, you can make your home maintenance more manageable. And if you’re lucky enough to have equity in your current home, you might be able to take some of it and stash it in your savings account by moving into a smaller home.
When It’s Time to Move On, Be Ready to Do It
Many people get emotionally attached to their homes. It makes it so hard for them to say goodbye when it’s time to move on.
Try not to fall into this trap. If you notice any of the signs listed here, you should stick a “For Sale” sign in your front yard and get ready to move to a new house. It’ll be what’s best for you and your family in the long run.
Want to find out how to get top dollar for your home when selling it? Read the articles on our blog to get some great advice on listing a home for sale.