I sure hope you all survived the “snowmageddon.” For our team, that was quite the experience. For a brief moment it reminded us of the lock downs of Covid; working from home with the kids as the outside world still turned, although the local cities were on shut down mode. I think we can all agree not many of us are great at driving in the snow.
This last month not only brought us some beautiful peaceful snow but also a quite a few clients wondering “where do we go from here?” The theme of January and even the last couple weeks of February seems to have a consistent thread of clients feeling the need, urge or simply put a “middle-class problem” to move. As we started to dive into their stories and the motivation for selling, what we found interesting was that most of them felt stuck in the making decision process; and let me tell you…this is where our team enjoys getting in the water with our clients and help them navigate one way or another.
So, what should property owners consider when trying to decide if it’s the right time for them to sell? Here are a few questions that has helped our clients obtain clarity on their next chapter and possibly their next move. 1). Where are you moving to? Will you be reinvesting in this current market or moving to a more expensive market? 2). Will the next property fit your needs for at least two years, preferably five. 3). If you were to hold on to the current property for a few more years, how much additional equity would you gain? 4). What systems in the home are going to be needing replacing in the next few years?
There are quite a few other questions we find clients often forget to ask themselves, but one of the questions we tend to drill down on more than you’d think is, why is this property no longer suiting you? Does it no longer bring you joy? Will your replacement property be further out of reach financially if we continue to wait?
Sometimes we forget to give ourselves permission to close a chapter and start a new one; for no other reason other than simply because we want to. A primary residence specifically, should be a place of respite, an avenue of joy and a place where you feel content.
Moving doesn’t always make the most sense on paper and it important that you have someone you can bounce ideas of that has your best interest at heart. We have counseled numerous clients out of selling the past several months. On the flip side we have also been able to witness clients find freedom in accepting that it is okay to upgrade or downsize, not because they have to but simply because they want to.
As the local cities thaw and exchange snowy conditions for bare pavement, our team would be honored to have a conversation with you, if you are feeling stuck about your real estate needs or goals.
