Some typical reasons for selling
It may just be the area it is in is not what is desired anymore. A quiet location has developed into a thriving metropolis or all the neighbourhood children have grown up and the streets are eerily quiet.
Size may be a factor, either too small or too big now
The realisation that a purchase was a mistake e.g. first time buyers just pick anything to get out of their current living situation (family/rented). After they have settled, other factors start rising in importance e.g. no parking, busy junction or no ensuite to the main bedroom.
What better way to spend the money you are earning than moving into a bigger home or a better area or both? When it comes to money, you could even spend somebody else’s, by way of a larger mortgage!
Over time, your home requires maintenance. Most people tend to leave it to the last minute, some people choose to move!
Cash in on the boom! There are two types of people who like to sell when property prices are heating up, ones that want to spend the money on holidays or fancy cars, then there are the more financially astute who take advantage of the high property prices and sell, waiting for the dip to buy back again.
A person may just want to sell with no reasoning behind it.
A job offer or change may result in relocating.
Proximity to family – either closer or farther away.
Some people like to buy a “fixer upper” and then once there is nothing left to “fix up” they want to look for another challenge.
At certain stages of life, a person may just decide a home is not all that it is cracked up to be and want more – this tends to have them following their dream or throwing themselves into their hobby
Births/Marriage/Divorce/Death – all these life changing moments can be reasons for selling. Buying a bigger home for a growing family, moving in together into one home, moving out because of painful memories of a loved one.
Downsizing a home is also common, especially with the older generation as they find it harder to look after their home once their children have moved out. The older you get, the harder a big house is to maintain, struggling to climb stairs or do the gardening etc. In some instances, another property is not bought as they choose to move into a retirement complex or home.