If you are thinking about selling your home, then now might be the best time to start getting serious. There are dozens of reasons to sell your current home, but before you do, make sure you are packing your bags and closing up shop for the right reasons. You should never sell your house on a whim or because you think that putting it on the market is a great investment move in order to buy a new house, because it is very likely that you will be putting your profit right back into your next home which will leave you back at square one.

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Renting Might Help Boost Your Finances

Having a mortgage can sometimes be a major and unnecessary burden. When you have a mortgage you also have property tax and you’re forced to take care of your own utilities such as your water heater, furnace, and the list goes on and on. Owning a home can be a very costly endeavor and selling your current home might be a great idea if you are considering renting a property instead. For many families in this day and age, renting is the most economical way to have your own living space without all of the added expenses and this option also turns about to be extremely beneficial as you get older, too. Most rentals cost significantly less per month and require much less maintenance. We have touched on this subject in a previous article, but we also would like to mention that you should really take a look at your finances and determine how much per year you actually have to fork out towards utility bills, property taxes, and maintenance costs of your home. We also would like to stress that if you have an older home, now might be the right time to sell because of the following reasons:

Older Homes Need New Roofs

Current studies show that homes need a new roof just about every twelve years and prices can range from $6,000 to over $40,000 depending on how big the roof is on your house and what type of material you decide to use when replacing your old roof. This is definitely a costly, but necessary upgrade from time to time, so be prepared.

Many Older Homes Will Also Need New Energy Efficient Windows

This is another costly aspect of owning a home and the risk of having to replace your windows definitely goes up if you are living in an older home as well. Unless you know how to install your windows, then you probably will be calling a number of local contractors to do the window installation for you. We want to warn you again that window installation prices can be staggering and they range from about $1,500 per window to $6,000 per window. This usually depends on the type of windows being installed and the markup prices of the contractor you choose.

You Want To Live Closer To Family

If you live quite a ways away from your family and other relatives, then this could be another great potential reason to pick up and move. In fact, data suggest this is actually one of the most common reasons people sell their current homes. Sometimes this is also due to a loved one contracting an illness that requires them to have constant care. Whatever the case may be, moving closer to family is usually never a bad idea, so if you’re looking for a great excuse to sell your home, then this might be it.

Sell Your House And Retire

Selling Your Home Can Be a Great Move For Retirement

As you age and approach retirement, you might want to consider downsizing and further cutting down on costs. One of the best ways to do this is to sell your current home and perhaps think about moving into a smaller home or even an apartment. This type of housing option is usually a great choice if all of your children are out of the house and you pick a decent area to move to. If you do decide to move into a multi-family home or apartment, then you will have several luxuries you probably haven’t had in several decades. For example, you will no longer have to worry about property tax, home insurance, flood insurance, and of course, a mortgage payment. This option isn’t for everyone, so before making a big decision like this, it is best that you really think it over and discuss it with your spouse to get their opinion as well.