First-time buyers rarely buy their "forever" home, no matter how much they're in love with a home when they first move in. People's lives and circumstances change, forcing them to upsize or relocate. Here are some reasons people are looking to move right now:
Bursting at the Seams
When people purchase their first home, they don't always think about how much space they'll need when their family grows. And it's not just the number of bedrooms. Children come with "stuff," and you need places to put it—a playroom, a larger garage, or a shed to store bikes and sporting equipment. Multigenerational living is also becoming more common as families cope with lifestyle changes. If a parent or grandparent needs to stay with you long-term, you may want a home that has an accessory dwelling unit to give relatives their own private space.
Dealing with Pandemic Changes
The pandemic has restructured how people are doing life. As people spend more time around the house, they find it just doesn't work for them anymore. Parents who are working from home while their kids are doing online school from the living room might wish for a home with a large office—preferably one with soundproof walls! Or maybe you've got enough indoor space, but you'd like to spend more time outdoors—all that summer gardening has brought out your green thumb and now your hobby has outgrown your tiny yard.
Ready to Cash In
Homeowners, your home is an investment. And thinking like an investor, you purchased a home expecting to eventually sell it for more than you paid. As a local real estate agent, I can evaluate how much your home is worth and how quickly homes are selling in your area. If you're seeing high home prices or are hearing of bidding wars in your neighborhood, it's a smart move to contact a local listing agent and make a profit on your investment.