When you’ve entered the property market as an interested buyer, you’ve likely explored a few homes in different areas you like to see if they fulfill your requirements. Alongside asking innocent questions about the home, you might also wonder why the owners decided to put their houses on the market.
All manner of thoughts can run through your head, such as an expensive problem they don’t want to fix or an imminent and catastrophic issue that will blow your renovation budget. While there’s no denying that these can be common reasons for putting a home up for sale, most homeowners decide to sell and move on for some of the following reasons.
Buy Something Larger
If you were a growing family living in a small home, you might consider selling your house in Kansas City or further afield if it was no longer large enough to meet your daily needs. This is one of the most common reasons for selling.
While a small one or two-bedroom apartment might be more than suitable for an individual or couple, it can quickly become too small when you decide to start a family and welcome new life into the world. Some people even choose to purchase larger homes with yards when they want to ensure their pets have more space to play.
Buy Something Smaller
Many people decide to put their homes on the market or sell them to professional buyers when their homes are too large for their needs. They might have successfully raised children in their family homes, and now they’re empty nesters, or they’ve simply realized that they can no longer keep on top of the maintenance their properties require to stay in excellent condition. These are valid reasons for deciding to sell up and move on.
Be Closer to Work
While many people work remotely, allowing them to live wherever they like, not everyone has that luxury. Some people must go to their place of business every day, requiring them to be within a convenient driving distance. Sometimes, a job change can also see the need for a change of home, especially when the house is no longer within a manageable driving distance. Rather than spending their free time commuting, they can relocate somewhere closer and enjoy more free time.
Moving Out of State or Country
Many people put their homes up for sale when they need to move out of the state or country to take up new job opportunities or be closer to friends, family, and support networks. They might love their home, and the time they’ve spent within it, but it’s no longer practical to keep it when they want or need to be elsewhere. While some homeowners might decide to rent their homes out when they move, others are eager to sell so they can purchase in their new location.
Sometimes, people sell homes they’ve never lived in. Instead, they’re selling an asset they inherited that once belonged to a loved one. Many real estate agents advertise this fact when they list the property for sale, describing it as a deceased estate with an owner eager to sell quickly.
While some people hold onto homes they inherit and decide to live in them or rent them out, others choose to sell them quickly to avoid having to pay property taxes and set money aside for maintenance and repairs. There can be many benefits associated with purchasing a deceased estate, such as purchasing them for a competitive price, buying from a motivated seller, and having incredible renovation potential.
Ready to Move Up the Property Ladder
When many people become property owners for the first time, they purchase a conservative property with a low price tag and, sometimes, a long list of things that need to be repaired. They then work hard and make the house a home.
After putting in so much time and effort, you might wonder why they’d choose to sell their labor of love. It often comes down to being ready to move up the property ladder. They might have chosen that home as a stepping stone to a better one. Now that they’ve built some equity, they can purchase something that suits their needs even better and potentially repeat the process.
Enjoy Better School Zoning
Most parents want the best for their children, and a significant part of that involves education. Your location can sometimes dictate the school you can attend, and some parents find themselves living in an area with school zoning that doesn’t suit their wants or needs, even if the house itself is perfect for their living situation. In that case, they might start searching for properties in another school zone, one that will give their children the educational opportunities they desire.
Natural Disaster or Fire
Natural disasters and fires can take a toll on homeowners. Their once much-loved family homes are now in a state of disrepair, and they don’t always have the money, time, or inclination, to return them to their former glory. Homeowners often decide to cut their losses and sell their homes to professional buyers or put them on the open market. Someone without an emotional connection to the property can then purchase it, bulldoze it, or renovate it to suit their own preferences.
Free Up Cash
Homeownership is a desirable option for many people who want to lay down roots, join their local community, and raise a family in a stable home environment. However, having a mortgage and so much money tied up in a single asset is not everyone’s preference.
Some people want to travel the world and experience new things, and they don’t have pets, children, or other commitments to worry about. Rather than owning a home, which can be a tie, they decide to sell, rent a home when they need one, and turn the money they received from the sale into experiences.
It’s only natural to be curious about why a home is going on the market, especially when some properties are so beautiful you could never imagine wanting to leave. However, everyone has their own unique reasons, and they don’t always relate to any issues with the properties.