Homeowners

Should You Sell Your Home? 6 Reasons to List

You probably have strong feelings about your home. You may love your space and community, but they no longer meet your needs. Or you may despise just about everything about them, or so you think.

So, how do you decide if you should stay—or go?

“[Reasons] can range from lifestyle changes to financial reasons to major life events and market conditions,” said Jared Barnett, a New York City-based real estate agent with Compass. “It comes down to your personal situation.”

These are six key reasons why homeowners may want to consider becoming home sellers.

Reason No. 1 to sell: You need more (or less) space 

Needing more or less space is one of the most common reasons that people move.

Some homeowners need additional square footage to accommodate a growing family. Others have aging parents or adult children who move in with them.  

“People don’t necessarily even want to sell, but they have to … because they’ve outgrown their place,” said Barnett.  

Couples who move in together or get married may also need to sell their homes to merge households.

On the other hand, empty nesters and those looking to downsize for lifestyle or financial reasons may be interested in smaller spaces. Less square footage is often less expensive to heat and cool and maintain.

More than a third of recent buyers, 36%, opted for a home larger than their previous property, according to a 2024 report from the National Association of Realtors (NAR). About 32% downsized to a smaller home, while roughly 30% bought a similarly sized home.  

Reason No. 2 to sell: You can’t afford your mortgage or maintenance

If you lose your job or unexpected expenses crop up, it may become difficult to pay your mortgage. Homeowners experiencing financial hardships may want to explore their options, including mortgage forbearance.

Even those who are able to make their mortgage payments each month, may struggle to pay for homeownership expenses, such as repairs and maintenance. Or they could be faced with a large, sudden expense, such as a boiler that needs to be replaced or an electrical system that needs to be upgraded.

In these circumstances, it may make sense for homeowners to consider listing their homes.

But seller beware: You are generally required to disclose major problems in a home to potential buyers. This can impact your home’s value as well as buyers’ willingness to move forward with a sale.

Reason No. 3 to sell: It may be a lucrative time to list your home

Financial motivation to sell isn’t always a matter of hardship.

“Sometimes, people take advantage of favorable market conditions,” Barnett said. “If [homes] in their neighborhood are selling at high prices, sometimes they’ll try to cash in on that.”

And while buyers tend to be motivated when interest rates are low, would-be sellers shouldn’t worry too much about timing their sale. It’s almost impossible to figure out the best date to sell your home—except in retrospect.  

“[It’s] a misconception that you have to list at a certain time of the year,” said Barnett.

Reason No. 4 to sell: You hate your home

Maybe you purchased a starter home, never intending it to be your forever home. Or you may just be sick of your decades-old, cramped bathroom or not having a dedicated home office.

It may be difficult to tell if it’s time to move—or redecorate.

Before you plant a ‘For Sale’ sign in the yard, you may want to see if a new coat of paint, a kitchen remodel, or rearranging some furniture will do the trick.

Reason No. 5 to sell: You have concerns about accessibility 

For some homeowners, particularly those aging in place, concerns around accessibility and the ability to keep up with maintenance are strong motivators to sell.  

About 44% of adults 50 and older expect to relocate at some point in the future, according to a December 2024 survey from AARP.

The main reasons were housing costs and affordability. Chief concerns included the desire for easier home maintenance and the desire to live in a home that will help them to live independently as they age.

Depending on your needs, alternative forms of housing such as tiny homes or condominiums may offer the right balance of a smaller footprint, decreased expenses, and easy access to neighbors and other amenities. These types of properties also generally require less maintenance.

Reason No. 6: You want to relocate

If you’re hoping to be closer to your loved ones, you’re not alone.

The desire to move closer to friends and family is the top reason that sellers move, according to the NAR report. About 23% cited this as their motivation for relocating.

Other homeowners may want to experience a new community. Another 10% said they listed their homes because their neighborhoods were less desirable.

Most people who move don’t travel far. The median distance between the typical seller’s new home and their previous one was just 20 miles.

Other homeowners may experience life changes that lead them to call moving companies. If you’re offered your dream job in another state, it may be time to list your home and start packing.