As humans, unless we have a genuine wanderlust streak within, we usually enjoy staying in one area and building connections in that place.
Having a good reputation at your place of work, enjoying a wide range of friendships, and having your children doing well in their schooling assessments are all great reasons to stay put and let the years pass by.
However, not everyone enjoys staying in one location for a long time, and neither should they. Despite having a family, sometimes your time living in your area runs its course, and it becomes less of a matter of building in one location but more a matter of spreading your wings to explore horizons anew.
But when do you know it’s time?
It’s usually such a huge decision that the ‘umming and ahhing’ can last for weeks, months and even years. This list will help you identify if your current home location has run its course, and what to do about it.
As this website focuses on real estate and financial issues, this article will identify financial and property-related reasons for you to move, and not explore emotional or relationship difficulties you might have encountered.
#1 House Valuations
Over time, it’s a possibility that your house valuation will either stagnate or depreciate in value. This can be because of many reasons, such as the national economy, the local economy, the maintenance and repair of your property, or simply how developed your area is.
It’s possible that over time, the resale value if you ever chose to move would be so low that selling would be enough to take you completely off of the property ladder, instead of helping you take a firm grip on another rung.
If this happens, it’s important to identify it and sell with a professional service like Hungry Agents, to help achieve the most valuable resale you can. This can prevent you from being stuck in a certain area if you’re sure that it’s not what it once was.
#2 New Career
Sometimes, moving to a completely new career is worth sacrificing work relationships and comfort for. Moving for a new job is justified if your salary or benefits are greatly increased.
Don’t sell until you’re certain the position is yours.
#3 Priced Out
The rejuvenation and development investment in an area can, unfortunately, price people out of their homes. As cities, especially large, prestigious ones develop and bring in more money, development schemes flourish.
It’s likely that if this has happened to you, you’ve experienced a hike in your rental costs or similar financial duties. It’s okay for you to move if this is the case. Sometimes a living wage is more important than staying somewhere because of tradition.
These aren’t the only reasons as to why you might move. Better schooling for your children, moving to a more suitable locale to operate your new business and simply shortening your work commute can all be valid reasons.
When this happens, be sure to use a professional firm to help you throughout the whole process, and you’re likely to move in a smooth, stress-free way.
So what do you look for when you’re looking for a property to invest in? I would love to hear your thoughts on this topic in the comments section below.