Often homeowners move up because of a life event. Perhaps two single homeowners are getting married and need to sell their current homes and buy a home better suited to their new life. (A Realtor’s dream – 3 transactions!!) Or perhaps an expanding family requires more space. Or a wonderful career opportunity pops up outside of Northern Virginia.
However, other moves are discretionary. The homeowner has the financial resources to move to a new home and desires to do so for a variety of reasons; more space, bigger lot, smaller lot, more amenities, better schools, etc. The actual timing of the move is not critical so these folks often ask, “How is the market? Should I do this now or wait?” There may be some personal financial factors that dictate the proper response but the market is not really a factor. Here’s why.