Friday, January 24, 2020 / by Brian Khatambakhsh
Looking to sell your home in Mississauga this year?
A home that no longer is a good fit for one family can be a dream home for another. When a home is no longer a good fit, it might be time to make a change!
Ranging from personal reasons to physical surroundings, there are plenty of reasons why people sell their property.
Continue reading below to learn about the Top four reasons why people decide to sell their homes….. You may also have one or more of these reasons! :)
1. Home-Related Reasons
The motivation for a move doesn’t always mean that there is something wrong with the home. However, the situation for the homeowners may have changed, requiring something different.
Overtime, our priorities change and with shifting needs there is inevitably a requirement for more space. Increased family size is the most common reason for selling a home. Maybe you’re in a new relationship, expecting a child or have decided to work from home and need extra rooms. First-time home buyers often outgrow their residences and as the kids grow, a larger place is needed.
Upsizing can be expensive, but it can result in making a decent profit on your original purchase, and upsizing can not only be possible but also more financially achievable than you previously thought.
Some homeowners might believe they made a mistake when they purchased their present place and now want to move out. Maybe they thought they could get by without a front yard, but the noise from the street is just too much. Maybe the pool is hard to maintain and they never use it anyway.
Sometimes it’s the neighborhood. Being in the heart of the action was great before but now it’s just noisy and you are looking for something quieter.
Perhaps the overall area has developed: grown too commercial, too busy, too young, or too quiet.
2. Financial Reasons
Money is another common motivation for moving. Not only do people's incomes change over time, but the values of homes also change over time, introducing another factor.
People outgrow their homes in a figurative sense. Careers are flourishing or earning more money and can afford a bigger, grander, more expensive residence.
Some people don't want to put on a new roof, or buy a new furnace, so it's easier to buy a newer home. When you figure the life of most residential infrastructures is about 15 years, it could make sense to get out before it's time to spend more money.
Cash in Equity
Some homeowners can't stand the fact their place is worth all that money. Rather than stare at four walls with empty pockets, they find it more financially expedient to sell and use the funds for other things.
If you are looking to buy a home but have one to sell, you may find yourself in the same dilemma that most homeowners find themselves in. Do I buy first, or do I sell first? What if I end up with two homes? I can help with this dilemma!
I’m Brian Khatambakhsh and I Guarantee you, in writing, that I will sell your home for a price that is acceptable to you, or I’ll buy it myself! Never worry about owning two homes.
To Discuss the Sale of Your Home, Call Brian at 647-848-2652 and START PACKING!
*Brian and Seller must simply agree on price and closing
3. Personal Reasons
Life changes in a lot of ways that have little to do with money or the size of one's family. When owning a house is the only thing keeping a homeowner tied to a specific area, it might be time to consider cutting ties to the house as well. On a positive note, it might also be that your priorities have simply changed and you want to upgrade some aspects of your life.
New Job or Transfer
Work-related relocation doesn't mean that you have to do a full-fledged move to another town or state, however many people draw the line at a commute that exceeds a certain distance, especially if it means driving in heavy traffic.
Family and/or Relative Related Reason
Some people chose to move to be near relatives, and some move to put distance between themselves and their kin.
Some people enjoy fixing up a home—spending time, money, and effort on remodeling. But once the work is completed, they become restless because they have nothing left to do.
If you have invested considerable amounts already in adding value to your property, maybe the time has come to sell up, cash in and start again.
Different Interests and Priorities
Some people are simply tired of owning a home and would prefer to travel, pursue a hobby, or to have less responsibilities. So, for these people, homeownership loses its priority status and selling a home turns into the ticket for realizing dreams.
4. Life Cycle Reasons
As people reach significant milestones in their lives, their residential preferences and needs often alter.
Changes in Relationships
Moving in with a partner or getting married usually means selling for one or both of the parties. Conversely, breakups or divorce also is a common reason for people to sell homes. One party may need to buy out the other and not have the cash available, the place may not be affordable to sustain on a single income, or the home simply holds bad memories.
Downsizing is a key reason why empty-nesters move. The kids have grown up and moved out. Plus, the older you get, the harder a big house is to maintain. Physical ailments make it difficult to climb stairs, walk long distances, or do yard work. Since refitting can be expensive, it's more expedient to move to a place with a preferable layout or a condo complex with maintenance staff.
Downsizing is a difficult decision and it can be an emotional time, but it can also be liberating as you shed all the ‘stuff’ from the past and move into a simpler, less cluttered phase of your life.
Active-adult communities are attracting many buyers over age 55. These planned communities offer golf courses, clubhouses, workout and recreational facilities, social gatherings, and health and medical facilities, making it easier to age in place.
Death in the Family
When the other half of a couple dies, the survivor often finds the home too big or too full of sad reminders to remain there. Maybe grown children find the family home impractical to keep after their remaining parent goes. Estate planners often recommend that homeowners transfer title to a property into a trust, which allows their heirs to avoid probate proceedings and sell a home more easily.
The choice to sell your home this year may not be in your original 2020 plan, but sometimes solid opportunities cannot be ignored.
Example, if the market is strong for properties like yours, the timing may in fact be good for you to consider the options. Keep close tabs on sales of houses similar to yours and follow up with an appraisal of your own property from a local real estate agent.
Selling at above and beyond what you may have previously anticipated, strengthens your financial position and helps you achieve your goals much faster.
People sell their home for many different reasons aside from the Top 4 Reasons we listed above. However, for whatever reason it is that you have, my team and I are here to help you when the time is right to sell. No need to worry about the stressful process of selling a home. Our team is among the top performing Realtors in Mississauga and we have helped hundreds of people buy and sell real estate in Mississauga and surrounding cities in the past few years.. Check out the 4 Big Reasons to Sell your home with Brian!
To Discuss the Sale of Your Home, Call Brian Today at 647-848-2652 and START PACKING!
Do you Know anyone who’s planning to Buy or Sell Real Estate?
Refer them to us! Not only will they receive the Award-Winning services we are known for, but also a solid portion of our income on EVERY home sale will be donated to the DAM Youth Drop-in center and The Mississauga Food Bank as we have partnered with them in the Fight Against Hunger and Exclusion in our community.
Our Mission: Help Make Lives Better! For our Clients, our Staff, our Community, and Ourselves!