13 Common Reasons Why Americans Sell their Homes

Buying a new house is the grandest investment you’ll make. It is a venture to keep for a lifetime. However, the shifting lifestyle triggers for the change of people’s undertaking and preparation of the future.

Contrary to homeowners before, who live in their houses for more the 30 years, property owners today are less likely to stay long. Usually, 5-10 years of stay is enough to sell their house.

Why Homeowners Sell Their House in Washington DC?

This phenomenon might be intriguing for some but it is actually a common practice for Americans. Here are 13 reasons why homeowners opt to sell their house.

Reasons Why Americans Sell their Homes we buy houses1. Outgrown the Starter Home

First-time homebuyers, especially those that are newly married, usually purchase a property that can only accommodate them as partners. They overlooked the possibility of growing their family bigger in the coming years.

A spacious living room, additional bedrooms, and a bigger dining area become a necessity. With this, they opt to find a bigger house compared to their old one.

Make sure to buy a property that you believe will accommodate your needs for the next 5- 10. Although life isn’t always sweet and orderly-fashioned, preparing for the future is better than moving out every now and then to find a better and more comfortable home.

Reasons Why Americans Sell their Homes we buy houses2. Wants a Grander Home

Who would not want a better, bigger, and grander home? Of course, everyone would love to.

People with extra funds would invest their money on a new and bigger house and upgrade their lifestyle for the better. This is no problem especially if you can afford to make a purchase. Just make sure to save for the rainy days. A luxurious house won’t help you on your immediate needs.

Reasons Why Americans Sell their Homes we buy houses3. Rectify a Purchase Error

This should not happen but some buyers still make mistakes in their purchase.

For an instance, you may want to renovate your house, but zoning restrictions were implemented by the local officials without you getting notified by the seller. Or you easily fell in love with the newly- renovated house, only to find out that the location isn’t safe at all.

These mistakes happen because sellers get easily swayed by the seller or it is just due to personal negligence.  Whatever the reason is, they didn’t get the best deal.

If this happens, you have two choices. It’s either to live within the restrictions or sell your house and move. Usually, the latter option wins.

Reasons Why Americans Sell their Homes we buy houses4. Career Advancement

Job transfer is another reason why most homeowners move. If you are offered a job opportunity in a different state or town and don’t want to have daily commute then relocating is the best option.

Sell your home and find a local house nearby your new company. This saves you time and money.

Reasons Why Americans Sell their Homes we buy houses5. Marriage or Divorce

Since more and more people are marrying in their late thirties, they tend to sell their individual houses to get a larger home in preparation for a bigger family.  One, or even both of them, would sell their house to purchase a better property where they will start building memories.

Unfortunately, on the other hand, relationship breakup and divorce trigger homeowners to sell. Aside from forgetting the bad experience and memories from their old house, divorced partners sell their property with the goal splitting the profit to get equal equity.

Read: 4 Ways to Equally Divide Your Property After Divorce

Reasons Why Americans Sell their Homes we buy houses6. Undesirable Neighborhood

You have transferred to an area that is quiet and homey, however, in a long-run your neighborhood has started to change. It becomes toxic and no longer matches your current and desired lifestyle— socially, physically, and economically.

When this happens, homeowners are compelled to sell their house to transfer to a new location where they can get a peace of mind.

Reasons Why Americans Sell their Homes we buy houses7. Family Downsize

Kids have are already grown up and have built their own family. Once this happens, empty nesters would prefer smaller home.

Selling your old house and moving to a small yet cozier place is way better than staying in a house with no one to be with.

Read: 5 Easy Steps to Successfully Downsize Your Home

Reasons Why Americans Sell their Homes we buy houses8. Family Connection

Some people want to get closer with the family while others don’t. Depending on your goal, the need to sell your house is an ideal idea if you want to relocate near or far from them.

Reasons Why Americans Sell their Homes we buy houses9. Retirement

Some retired and older couples would want to relocate to an active-adult community, where they can have an active lifestyle and pursue a hobby. Some would love to go on travels.

Cleaning and maintaining big houses is an issue for the older homeowner so they prefer to settle on a simple haven that is easier to sustain.

Read: 4 Reasons to Sell Your Home When You Retire

Reasons Why Americans Sell their Homes we buy houses10. Health Issues

Back and knee problems and other physical ailments deter homeowners to climb high staircases and clean spacious property. Having these health issues, they would trade-off two-storey houses to a one-storey home or a condo unit for a simple lifestyle.

Others with severe health issues are recommended to stay at home with a nurse.

Reasons Why Americans Sell their Homes we buy houses11. Cash in Equity

Your house bought 10 years ago has doubled and tripled in price now. With this, some owners opt to sell their house to get the equity.  They are simply drawn to selling their home to get more funds than having a home.

If you do this, make sure to put your money to a better investment plan.

Reasons Why Americans Sell their Homes we buy houses12. Extensive Renovation Needed

Your house requires a total renovation. You need to replace the siding, install new roofs, buy a new furnace, and a lot more other areas to improve. This would possibly cost you more than buying a new home.

With this, homeowners choose to sell and buy than to spend money on the home improvements and renovation.

Read: 10 Things You Should Prepare to Sell Your House Fast

Reasons Why Americans Sell their Homes we buy houses13. Foreclosure

You weren’t able to pay your loan which set off mortgage lenders to foreclose your property. Before they close and sell your property, you may want to sell it yourself and pay the remaining loan balance before everything gets worse.

This is a strategy done by most homeowners to avoid foreclosure and still get money from its sale.

The above reasons are the most common reasons why homeowners sell their home out of the many. Usually, it varies on your financial goal and life circumstances.

However, putting your property on sale is difficult and takes a long process. If you want to take the plunge and sell your house fast, contact The Home Buyers.

We buy houses of any type whatever your reason is. We guarantee the sale of your house, pay it in cash, and close the deal within a week. Contact us now!

Should You Sell Your Home Before You Buy a New One?

You want to sell your house. Everything is ready. The improvement projects are done and you just need to list your property. However, after these preparations, you just realized that you are not yet set for the future. Where will you move after? What’s waiting for you?  This made you think; would you sell your property or find a new home first?

How to Buy a House Before Selling Yours?

 John Smith, CEO at Inspired Finance Group Pty Ltd, says “When and whether to sell first then buy or vice versa is the eternal question and this can depend on whether it is a buyer’s market or a seller’s market, whether you can afford a bridging loan, or have enough equity within your properties to capitalize on interest.”

Several things must be considered in buying or selling a house in Washington DC. It is necessary to build a strategic plan and clarify your goals. And let’s hope luck will be showered onto you during the process.

Most home owners sell their home before buying a new property. But admittedly, it equally offers risks and great advantages as well. Here are 6 things you should know about selling your home.

Should You Sell Your Home Before You Buy a New One we buy houses

1. You stand as a more reliable buyer than any other because you have available funds to finance your new property. Home sellers prefer a buyer with cash on hand rather than those who depend on the chain, where you still need to sell your existing house before you buy a new one.

2.  You will avoid gazumping. You will less likely to meet possible buyers that will back off from their promise after committing on buying your property on a certain price because they learned you are engaging with a property chain.

3. You don’t rush to sell your house. You are in control of your property’s sale and not pressured by anything else. This helps you find a better property sold at a very competitive price.

Should You Sell Your Home Before You Buy a New One we buy houses

4. You are confident in buying your new house as you have money ready in the bank and you are no longer dependent on the sale of your existing property.

5. If you don’t buy and transfer to a new property as quickly as possible, you may end up renting a room or house until you finally sold your property, which can cost you a lot. You can wait until the real estate market falls, you can definitely shop for more affordable houses.

6. You may spend a lot for a house rental. House market fluctuates. It can either go up and down and you might end up being undersold so watch the market carefully to guarantee that you are selling at the right time.

Should You Sell Your Home Before You Buy a New One we buy houses

Lisa Montgomery, the former head of marketing and consumer advocacy at Resi, warns home sellers about selling their property before scouting for a new house. “One of the hurdles you have to get over when selling before you buy (and renting) means that you’re doing a double move – and also you’re getting out of the market and it can be hard to get back in. So you need to have your finger on the pulse so you don’t miss out on the same market,” explains Montgomery.

Selling your house then founding a new one may be daunting and stressful but it is much better than being undersold and gazumped.

Why not engage with a cash home buyer to sell your house fast and get a new house in a breeze? The Home Buyers can seal the sale within 7 days.

Avoid the hassle of deciding which one comes first— selling or buying your home. We don’t want you to take this risky step. Fill up our form and we will contact you now. We price every property right!

When is the Best Time to Sell Your Home?

The real estate economy is on the rise and it is tempting to sell your house. Should you take a risk?

Aside from a good market condition, taking into account your personal circumstances is important. Before you plant the “for sale signage” on your yard, assess yourself and check below criteria to know whether you are ready to pursue a sale or not.

What is the Best Time to Put House on The Market?

Positive equity1. You have Enough Equity to Fund your Expenses

Before you finally sell your home, make sure that you’ll get an equity that can help you finance your mortgage and other personal expenses.
The equity price is computed by deducting your home loan from the total value of your property. For an instance, you house’s worth is $350,000 and the mortgage is $250,000, the remaining $100,000 is the equity.

If you have enough, it’s a good sign to sell. However, if you owed more than your properties’ worth, then don’t. Wait until the value increases or you have already settled your mortgage.

Debt Free a2. You have No Existing Bank Debt

Begin by assessing your cash flow. Can you finance three to six months of your everyday expenditure? Can you still live at ease while in the process of selling your house? If you answered yes to all these questions then you are ready to sell your old house and purchase a new property.

Settle your existing debts before you make a final decision.

Afford to buy a house3. You can Afford to Buy a New House

Do you have sufficient savings to buy a new house? If so, there’s no problem to sell. But if you only rely on the sale of your property, think twice.
Once you have listed your property, prepare for other expenses that may come your way. If you hire a real estate agent, then you are required to pay them a commission fee of 6%, which is undeniably hefty. If you want to save from this charges, this guide will help you sell without a real estate agent.

If your fund is limited and you struggle on paying your expenses, re-consider your plans. It is best to wait a moment and save before you make your house for sale.

Real estate market on the rise4. The Real Estate Market is in Demand

Observe the real estate market before you finally lists your home. Buyers usually begin scouting for new properties during sunny and milder days. Spring season has proven to be the best time to sell while winter is the worst.
If you list your home when the demand is high, the better chances of selling it fast at a competitive price.

Home improvement projects5. Your Home- improvement Projects are Done

Finish any pending improvement jobs before you put your home for sale. Repairing small projects like perking up the bathroom sink and painting the front door can make a huge difference.
You don’t need to fully renovate to please prospect home buyers as they may have a different preference from you. However, if there’s a need to do major home improvements for a more functional home; make sure to complete them as soon as possible. Read these 10 things to prepare to sell your house fast.

Buyers don’t expect a brand new house, a turnkey home is much more important.

family lifestyle6. Your House Does not Fit your Lifestyle

Is your house too small or big for you? Are you expecting relatives or additional family members to stay with you? Or, are your kids have already moved out with their own family? Do you need to up-size or downsize? Think of it.
These are common factors to consider before you sell your home. If your neighborhood and home no longer fit your lifestyle, then it’s probably the best time to sell your home.

If you are confident to sell your property and have all the resources you need to transfer to your new house, go ahead. However, if you want a quick sale and cannot afford to pay for ad-hoc expenses, The Home Buyers is your next big choice.

We can buy your home of whatever conditions and can price your house competitively. Need funds immediately? Contact us now! We can buy your home in just a week.