Homeowners in America rarely stay in their first home forever. Most people will buy and sell several homes over the years to meet the changing needs of their family.
Whether you are a first time home buyer trying to decide if you are financially ready to buy a home or you have a life change that forces you to move, there are some things to consider as you think it through. Some changes require both buying and selling. Some of you will move down the street, across town, across the country or even to another country. Here are a few changes that we have experienced with our clients and for ourselves that have prompted a real estate transition.
1. Your family has grown.
There are many reasons your once spacious home might begin to feel like it’s shrinking. Whether it’s the birth of a new baby, the kids getting older and needing their own rooms, or your parents moving in, you may find the need for more space a compelling reason to sell and buy a larger home.
2. Your family has shrunk.
After years of hard work, kids grow up, become independent adults, and move out. When that happens, parents are often left in a home that no longer suits their needs and takes a lot to maintain. If you find yourself in this position, congratulations! It may be a good time for you to sell and buy a smaller home.
3. You’ve changed jobs since you bought your home.
If you got a new job and your commute grew as a consequence, you may want to find a home more conveniently located. Relocation for a job is another common reason for people in our community to move. We have F.E. Warren AFB in our community, so we have military families move in and out of Cheyenne on a regular basis.
4. Your kids are starting school.
The right home when you have a baby on the way isn’t necessarily the right home when your child is heading off to school. Visit the schools in your area to learn more about them, it may be a good time to sell your home and move to a different school zone.
5. Home upkeep is too much.
If you purchased your current home when you were young, you may not have accounted for how much more difficult the upkeep and maintenance would be when you got older. When it does get to be too much, consider moving into something easier to manage.
6. You are ready to become a homeowner.
One day you wake up and you’re ready to either move out of your parents home or stop renting. Hopefully you have been keeping your credit score strong with solid financial choices.
Do you have questions about buying a house or selling your house? We anticipate a busy spring! If you’re thinking about buying or selling, let’s get started. Locally in Laramie County and Cheyenne the real estate market is active. If your home is priced correctly, clean and marketed with a complete plan, then your home should sell within a month or two. Connect with us today at 307-635-0303 or online at CheyenneHomeStore.com.
Steve Prescott, Broker/Owner for RE/MAX Capitol Properties, shared his summary of the 2022 real estate market and a few predictions on whether he expects home prices to drop in 2023.