From 1985 to 2008, the average length of time homeowners typically stayed in their homes was six years. But according to the National Association of Realtors (NAR), that number is rising today. Homeowners are staying in their houses even longer.
If you’ve been in your home for more than a few years, you’ve likely built up significant equity that can fuel your next move. That’s because the longer you’ve been in your home, the more likely it is to have grown in value due to home price appreciation.
While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by over 50%. And the average homeowner who’s owned their home for 30 years saw it almost triple in value over that time.
Whether you’re looking to downsize, relocate to a dream destination, or move so you live closer to loved ones, that equity can help you achieve your homeownership goals. NAR states that for recent home sellers, the primary reason to move was to be closer to loved ones. Plus, retirement played a large role for those moving greater distances.
Whatever your home goals are, as a Senior Real Estate Specialist (SRES®) I can work with you to find the best option. I can help you sell your current house and guide you to the home that’s right for you and your lifestyle today. #retirementliving #sellyourhome #yournextmove #karenisourfamilyrealtor #coldwellbankerrealty