Today I want to discuss a question I often pose to home sellers: Why do you want to sell your home?
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Many clients come to us saying that they need to move because their family has grown, they got a new job, or they’re simply not happy in their current neighborhood. But we know that there are often deeper reasons for moving, which, in our experience, often boil down to three things: lifestyle, relationships, and cost.
Can you afford to go somewhere new? Do you really like the neighborhood? If you move, will your daily lifestyle match your ideals? These questions are all things to consider before making a move.
And as you’re thinking of selling your house, also consider whether now is the right time. Could you buy a new home without selling your current one? What if there was a way that you could borrow the money you have in your current home to go out and buy a new home, and then turn your current home into a rental? This way, you could still achieve the lifestyle you want, you could still maintain relationships with your friends and family, and what’s more is that you could still afford it. If there was a way to do that, would it make financial sense to do so, and if it did make sense, would that option interest you?
Surprisingly, people don’t often think about the option of holding onto their current home when they’re deciding whether or not to purchase another. But in many cases, not only is doing this possible, but it’s also a great play: By turning your current home into a rental, you create equity, passive income, and real estate holdings.
If any of this sounds intriguing and you’d like to learn more, feel free to give me a call or send me an email. I’d be happy to sit down with you and discuss all the options you have.
