3 Signs You Should Sell Your Home ‘Forever’

Many people enter the home buying process with the goal of finding their forever home. Unfortunately, this can put a lot of pressure on everyone, both when looking for a property and when living in it.

If you’ve applied for a mortgage and bought a house with the intention of living there for the rest of your life, it can be really hard to admit, or even realize, when it turns out that you’ll actually need to stay there for much less time. More than that.

You don’t want to be trapped in a house like that. ~ no It really is. Because you went into it with a certain eternal mindset. Watch out for these three signs that it may be time to sell and move on, despite your previous intentions.

1. Housing costs became a burden

If you have a fixed-rate mortgage, your principal and interest costs should never change. Mortgage interest rates are fixed. However, like utility bills, property tax and insurance costs can also increase. In fact, homeowners insurance premiums nationwide have risen an average of 23% since 2023.

If housing costs are becoming a burden due to rising house prices, it may be time to seriously consider moving. Likewise, if you’ve put your money into buying a home in the first place, or if your income has decreased and you’re finding it difficult to cover housing costs, you should think about selling as quickly as possible.

Ideally, your expenses at home should not exceed 30% of your income. If so, you may not be able to accomplish other important things, like putting enough money into your investments and savings accounts. It’s time to take a serious look at whether your home is compromising your future security, and if so, downsize.

2. Your lifestyle and needs have changed.

It can be really difficult to predict what forever will look like for you. So if your lifestyle needs have changed, it’s important to recognize when your home is no longer suitable. For example, say you bought a house when you had young children, only to realize it doesn’t really work for teenagers or empty nesters. There’s nothing wrong with realizing that your forever home really should be your “current” home and looking elsewhere.

3. Commuting to work causes endless stress

Finally, you need to think about how your location affects your life. If you’ve moved far away from your friends, family, work, or school to what’s turning out to be a long and stressful commute, and the drive is making you miserable every day, it may be time to move.

In 2019, Americans spent an average of an hour a day commuting to work, which could amount to nearly a year of their lives by the end of their careers. You can save time if you can find a home close to what you need to do. It’s one of the few things in this world you can’t get anymore.

So even if you think your current home is forever, watch out for these three red flags that suggest moving to a new place might be right for you.

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