Selling your house and moving is a big step and a decision that shouldn’t be taken lightly. It’s going to cost you a lot of money in legal fees and if you’re moving into a larger place, you’ll be putting more strain on your monthly budget. Sometimes, moving house is absolutely the right thing to do. But in some cases, people move for the wrong reasons and end up regretting it afterwards. Before you make any drastic decisions, you should think about why you actually want to move house and if those reasons are good enough to make this huge lifestyle change. To help you work out whether it’s the right move or not, these are some of the best, and worst reasons to move house.
More Space
This one comes under both categories, depending on your current situation. You might think that you need more space, but you might not be right. If you’re starting a family and you’re living in a fairly small house, you’ll struggle where you are right now. It’s not too much of an issue with a new baby but as soon as they start walking, you’ll need to move into a bigger house with more rooms. However, a lot of people think that they need more space because the house is feeling cramped, but there’s a different problem. They just have too much clutter around the house. Have a clear out and see if that makes a difference, you might find that you don’t need to move after all. If you think that you need more rooms in the house, ask yourself what you’d actually use them for. Unless you can come up with a solid reason why you need a bigger house, you probably don’t, in which case, there’s no point increasing your mortgage just yet.
The Markets Are Good
When you’re in two minds about whether to sell up or not, the state of the markets can help you to decide. If they’re bad, you risk making a loss on your house which is obviously never a good move. But if the markets are good and the value of your house has increased way past what you paid for it, it might be a good time to take that opportunity and make a profit while you can. You can put the extra money towards a deposit on a bigger house. Even if you don’t necessarily need the space, you should consider it an investment for the future.
Moving For Work
Moving for work is another reason that could be good or could be bad. If you’re offered a new position that’s miles away from where you are now and there’s no way you could commute from your current house, it’s worth considering. However, you need to weigh up whether the job is really worth uprooting your life and moving house. You might be able to speak to your employer and see whether there is a similar position going at your current company and go for that instead. If you do take the new job, you might not actually have to move. If it isn’t that far away and you could reasonably commute there from where you are now, and you like the house, it’s probably better to just stay put and save yourself the hassle and expense of moving somewhere new.
Divorce
When your marriage breaks down and you decide to get a divorce, the house can be a real issue. There may be disputes about who gets to stay in the house if you decide not to sell it which causes a lot of complications and makes the whole process harder than it needs to be. The simplest thing to do is sell up and split the money, then you can both start again fresh. Click to find out more about selling your house after a divorce. The first thing to do is agree on how you’re going to handle mortgage payments until the house sale goes through, especially if it’s your name on the mortgage. If you don’t sort it out right away, you might find yourself liable for all of the debt if your name is on the agreement.
