Reasons for moving
SOME folks sell and move home so often we should offer them loyalty points! Others who have lived in the same home for the past 30 years have a hard time understanding this phenomena. They are shocked that people move so often, but I know one thing for certain – their day to sell and move will come as well.
Essentially, there are two types of vendors – those that need to move and those that choose to move.
First up are those that need to move:
Home is too small: First-time home buyers often outgrow their "starter" homes. Increased family size is the main reason home owners say they need a larger home.
Business Cards From Only £10.95 Delivered www.myprint-247.co.ukView details
Our heavyweight cards have FREE UV silk coating, FREE next day delivery & VAT included. Choose from 1000's of pre-designed templates or upload your own artwork. Orders dispatched within 24hrs.
Terms: Visit our site for more products: Business Cards, Compliment Slips, Letterheads, Leaflets, Postcards, Posters & much more. All items are free next day delivery. www.myprint-247.co.uk
Contact: 01858 468192
Valid until: Friday, May 31 2013
Job transfer: Relocation makes it necessary for many to pull up roots and move. If the commuting distance exceeds an hour, most people would prefer not to spend two hours in traffic every day.
Health problems: Physical ailments such as knee or back problems make it difficult for an aging population to climb stairs in a two-storey, so a one-storey home may be more practical. A trade-off solution for many elderly people who don't require round-the-clock care is to buy a bungalow or move into assisted living housing
Personal Relationships: Moving in with a partner or getting married can mean one of the parties will need to sell, especially if both owned homes prior to the commitment.
On the other hand, break-ups cause owners to sell as well for three basic reasons:
1. One party may need to buy out the other and not have the cash available.
2. The home may not be affordable to sustain on one person's income.
3. The home holds bad memories, making a fresh start desirable.
Debt: It's an uncomfortable truth that in recent years more and more sales have been driven by a need to make ends meet.
When the market takes a downward turn these reasons still hold and those will always be the most motivated of sellers.
The more lifestyle reasons include:
Upgrade: The grass is greener on the other side. People often want what they don't have and long for a bigger, more expensive and grander, upscale home.
Fix purchase error: Owners might believe they made a mistake when purchasing their present home and want to rectify that mistake. Maybe they thought they could get by without a garden but yearn to grow some veg, or the dining room in the centre of the house annoys them, or they no longer enjoy planes flying overhead within inches of their face.
Neighbourhood changes: The neighbourhood might have changed for the worse, economically, socially or physically. For example, maybe a main road was constructed nearby. Maybe the next-door neighbours receive visitors who arrive at 2am.
Empty nest: The kids have grown up and moved out. The owners want a smaller home. The older you get, the harder it is to keep a big house clean.
See family more often: Some people want to be closer to their family as they age and will move to be near relatives. Parents want to be near children. Grandparents, near their children and grandchildren.
Deferred maintenance: Some people don't want to put on a new roof, so it's easier to buy a newer home. When you figure the life of most home systems is about 15 years, it could make sense to get out before everything goes haywire.
Home improvement perfection: A small segment enjoys fixing up and selling, spending time, money and effort on remodeling, and once the work is completed, these people become restless because there is nothing left to do. Some of you may call these people obsessed, but for some, it's a way to maintain balance while mastering a hobby.
Cash in equity: Some home owners can't stand the fact their home is worth all that money because that money is not in their pocket. These people would prefer to stare at their bankbook savings than stare at four walls with empty pockets. They. Just. Want. The. Money.
Lifestyle change: Others are simply tired of owning a home and would prefer to travel, pursue a hobby or be less responsible. We used to call these people misfits or boomers, but many past a certain age want to find a calling that is meaningful to them. So, for these people, home ownership loses its priority status and turns into the ticket for realising dreams.
In buoyant economic times the second group of vendors take the greater control of the market and therefore prices hold up. With the recent turmoil in the market the vendors that "have to move" are the more dominate force and the effect is a downward pressure on prices.
With the current level of interest rates and the recent drop in house prices, has there ever been a better time to buy?