Common Reasons People Need to Sell Their Home

May 9, By Chris Stacey

The decision to sell your home is rarely an easy one. Not only can the sales process be challenging, but it’s easy to get attached to a home and place a lot of sentimental value in it. Nonetheless, there are a number of reasons a person may be driven to sell, whether due to financial reasons, work or family related reasons, or simply out of personal desire. Here are some of the most common reasons a person may need to sell their home.

You Can No Longer Afford the Home

While this is an unfortunate position to be in, it’s one that many people face, particularly amid the recession when finances are tight. Mortgage payments offer little leeway, and if a person finds themselves unable to continue paying their mortgage, selling the home may be their best option. In this instance, selling a home is particularly stressful, especially if you hold an emotional attachment to the property.

You’re Going Through a Divorce

Between 40 and 50 percent of married couples in the U.S. eventually face a divorce. While, in some cases, one partner chooses to keep the home, oftentimes the couple decides to sell the home and split the money.

The House Requires Extensive Repairs

While unfortunate, if you aren’t careful when buying a home, you risk purchasing a home with unforeseen damage. Some common maintenance problems include:

  • Mold problems
  • Water damage
  • Foundation problems
  • Structural issues
  • Roof problems
  • Rotted wood
  • Termite damage

Unfortunately, many of these problems may go undetected when buying a home, but they can be incredibly costly to repair, particularly if they aren’t caught early on. In some instances, a homeowner may determine it’s more cost-effective to simply sell the house and search for a home in better structural repair.

You’re Moving for a Job or Family

While your home may seem as though it’s in the ideal location, it’s impossible to predict the future. Plans could change at any time, requiring you to sell your home and move someplace new. Whether you were offered a dream job in another state, a family member fell ill and you’re moving to care for them, or you’re simply looking for a fresh start in a new area, sometimes people are faced with situations that propel them to move.

The Birds Have Flown the Nest

Couples often buy a home with children in mind, desiring a family home large enough to accommodate children and pets. Yet, after the children are grown and have moved away, the house can feel eerily large, with numerous empty rooms you don’t know how to fill. Parents frequently choose to sell their homes and downsize after their children have moved away, hoping for a smaller and more manageable home that requires less cleaning and maintenance.

You’ve Reached Retirement

About 56 percent of people aged 61 or older report feeling the freedom to live anywhere. Once retirement comes, the prospect of selling a home and moving to a new location is incredibly appealing to many, particularly if they’ve already finished repaying their mortgage. In retirement, many choose to move to another country altogether or to get a beachside home in a warmer climate. Others buy up mobile homes and spend their days freely exploring the country. About 72 percent of people 65 and older have already paid off their mortgage, making the decision to sell both easy and liberating.

I Buy Utah Homes Is Your Utah Home-Buyer Solution

These are just some of the reasons people may decide to sell their homes. No matter your reasons, the decision is rarely an easy one, and you need to ensure you can sell your home efficiently and at a good rate. If you’re living in Utah and looking to sell your home, I Buy Utah Homes can help.

Based in the Wasatch Front, we are a local investment company dedicated to making your home selling experience easy and hassle-free. Due to our in-depth knowledge of the region, we’re able to establish fair prices for the home, ensuring you get the best deal possible. No matter the reasons you’re selling your home, I Buy Utah Homes can complete the sale efficiently and equitably, ensuring the client is always put first. To learn more, give us a call at (801) 513-1382 or contact us here today.

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