Homeowners sell their properties on average every 6 years. What are the reasons? To some, that seems figure seems incredible. Many people stay in the same property all their life. The reasons they move are wide and varied.
1. The home has become too small for the family.
When a young couple buy their first home, they do inevitably grow as a family, and all to soon have need for extra space. Their starter home just isn’t big enough any more, and they need an extra room (or two.)
2. Upgrade.
There’s always a nicer property just around the corner - it’s what we aspire to and we all have ambitions. It’s fun to look and dream and chase our goals.
3. Things that don’t quite fit.
Maybe there’s something with the home that annoys them. Is it the neighbours? Perhaps there’s no off-street parking. Many sales are because the selller wants to change the things that aren’t quite right for them - maybe there lifestyles have changed and they do need a back garden after all, or the train that rumbles past every hour just can’t be tolerated anymore!
4. Change of job.
One of the most common reasons is a change of job, and a transfer to another city. Sometimes the distance to commute to work is just too far - most people won’t tolerate more than an hour in the car or on the train - that’s an hour in bed your missing there!
5. Change in relationship
Relationships can always have an effect on where you are and where your going. Moving in or moving out often relates to where you are with your love life.
6. Change in neighbourhood
The neighbourhood may have changed for the worse. Over time they do evolve socially and economically - you can see it in the different areas around your local town. Maybe there has been a major road run by your property, or the local council has decided to build a brand new airport through your garden.
7. The kids have moved on.
Another common reason for selling - the house has become too big - and people are downsizing. The older you get, the bigger effort it becomes to keep that large house clean, and all those extra rooms.
8. Seeing family more often.
We often don’t see family as much as we could, or want to. As we age we like to spend more time with relatives that we haven’t spent enough time with. Grandparents want to see their grandchildren.
9. See family less often
There’s the other side to the coin as well - maybe a little space between family gives them time to reconsider, relax, and get a new perspective on relatives.
10. Retirement
When you retire, you want to be with like minded individuals - and people of the same age. Older communties flourish and have all the amenities that are desirable, golf courses, club houses etc. All designed to appeal to the over 55 age group.
11. Physical changes
Health can affect how we live and where we choose to be. We don’t want to be climbing stairs every day as we get older.
12. Rennovations
Some people don’t want the hassle of undertaking major rennovations to the house that are required. It’s easier to sell and let someone who enjoys a challenge take it on. The life of most wiring and piping in the average home lasts about 15 years - sometimes it’s easier to sell before you need to get involved!
13. Job done!
Some people take on a property to fix it up, sell and make a profit. When it’s done, there’s nothing left to do..but sell! It’s on to the next property, and the next rennovation.
14. Equity release
There’s a lot of money in that house - and it’s all tied up and no-one’s using it! Sometimes it hard to resist using all that money you’ve ‘earned’ from paying off that mortgage all these years, whilst property prices have been rocketing. Why not take advantage of your shrewd buy, and move on up the property ladder?
15. Realising your dreams.
At a certain age, owning a home seems less inportant than it was when you were in your twenties or thirties. There’s a world out there that you haven’t seen enough of, and it’s time to get out there and do all those things that you’ve wanted to do for years. Sell the property, take the cash and go and do all those things that you’ve been dreaming of.
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