3 Signs You Should Sell Your 'Forever' Home

Many people go into the process of buying a home with the goal of finding their forever house. Unfortunately, this can end up putting a lot of pressure on you -- both when you're looking for a property and when you're living in one.

If you applied for a mortgage and bought a house with the intent to stay there for life, it may be really hard for you to admit -- or even realize -- when it turns out that your time there should actually be a whole lot shorter than that.

You don't want to get stuck with a house that's not really right, just because you went into it with a certain forever mindset. Watch for these three signs that it may be time to sell and move on, despite your prior intent.

1. Your housing costs have become a burden

If you got a fixed-rate mortgage, your principal and interest costs shouldn't ever change -- your mortgage rate is set. But property taxes and insurance costs can increase, as can utilities. In fact, homeowners insurance premiums across the country are up 23% on average since 2023.

If your housing costs have become a burden because of rising prices, then it may be time to think seriously about moving. Likewise, if you stretched to buy a home in the first place or your income has fallen and covering housing costs has become harder, then you should think about selling ASAP.

Your home should ideally not cost you more than 30% of your income. If it does, you may not be able to do other important stuff like putting enough money into your investment and savings account. Take a serious look at whether your house is costing you your future security and, if so, it's time to downsize.

2. Your lifestyle and needs have changed

It can be really hard to predict what forever looks like for you. So, if your lifestyle needs have changed, it's important to recognize when your home no longer fits them. Say, for example, you bought a house when you had young kids and you realize it really doesn't work for teenagers or empty nesters. There's nothing wrong with realizing that your forever home should really have been your "for now" house and looking elsewhere.

3. Your commute is causing you endless stress

Finally, you need to think about how your location is affecting your life. If you moved somewhere that turned out to be a long and stressful commute away from friends, family, work, or school and you are miserable on your drive every day, then it may be time to relocate.

In 2019, Americans spent an average of an hour a day commuting to work, which could add up to close to a year of your life by the end of your career. If you can find a house that's close to the stuff you need to do, you can get back your time -- and that's one of the few things in this world you can't ever get more of.

So, watch out for these three red flags that suggest a move to a new place might be in order, even if you thought your current house was forever.