Top 5 Signs it’s Time to Sell your Portland Home

How long is long enough to live in your Portland home?

Last year, the National Association of Realtors released a report finding that, for the second year in a row, the average number of years that homeowners hung onto a home was at 10 years. Ten years is a long time to spend in a home, and it’s unprecedented for this country. From the 1980s until about 2008 the average was at 6, maybe 7 years. What happened?

Analysts say that the Great Recession that started in 2008 had a lot to do with the average length of homeownership going up — when home values derailed, people hung onto their homes instead of selling.

As a Portland real estate agent, these numbers are telling me that there are a lot of homeowners in Portland that are hanging on to their homes unnecessarily. Home values are back up in Portland, and mortgage rates are still at all-time lows. More important, your real estate needs have probably changed over the past decade. Here are five signs that it’s time to put your home on the Portland market.

5 signs you need to sell your home:

1. Last year your “home costs” budget all went to a single plumbing call. As we discussed in our most recent Portland real estate affordability blog post, Portland ranks second highest in the nation for home maintenance costs. Thankfully, getting out of city limits can help immensely (newer homes). Haven’t you been craving a slower pace of life? Contact your Portland real estate agent team to learn about satellite communities that hit the sweet spot between urban accessibility and affordable lifestyles.
2. You open the closet door and things fall on your head. Let’s face it: Some of Portland’s older homes weren’t built with a lot of storage. If you have more than one child, or more than one hobby, you may find yourself wondering where to put all of that… stuff. Why sacrifice? Move up to a home that fits your needs. Our real estate agent team is here to help you get your home sold and find the perfect match for you — for your safety!
3. There’s a Mt. Everest in your house. Those stairs used to be a snap — but lately you’d rather ask your grandkids to fetch items from the second (or third) story. Or maybe it’s your bathroom that feels like an unfairly cumbersome place to take care of daily tasks. There are plenty of newer Portland homes and condos that are ADA-compliant and accessible for people of all abilities. You’ll be amazed at how much easier life can be in a home that lacks obstacle courses and mountains!
4. You spend more time in the car than you do with your kids. Portland is certainly not the worst in the nation for having heinous commutes, but if you live in Troutdale and work in Lake Oswego, you may want to consider moving. According to the Oregon Household Activity Survey, the average household in the Portland region makes 9.2 trips per day with an average trip length of 4.4 miles for trips taken by car. Could some of those trips be shortened or eliminated if your home was closer? Call your Portland real estate agent today to find out what’s available in your ideal neighborhood.
5. You’re drooling over tiny homes and the RV lifestyle. Retired? Work from home? US Census data reveals that homeownership rates are actually going down in the United States. More and more folks are realizing that unless they’re raising a family, they don’t necessarily need a traditional home and the associated costs. As your Portland real estate team, we never pressure you to buy a home — and we can get the one you’re in sold quickly so that you can follow your dreams.