If you’re debating whether or not you want to sell right now, it might be because you’ve got some unanswered questions. Does it make sense in today’s market to move? Maybe you’re wondering if it’s even a good idea to move right now. Or you’re stressed because you think you won’t find a house you like.
To put your mind at ease, here’s how to tackle these two concerns head-on.
Is It Even a Good Idea to Move Right Now?
If you own a home already, you may have been holding off because you don’t want to sell and take on a higher mortgage rate on your next house. But your move may be a lot more feasible than you think, and that’s because of your equity.
Equity is the current market value of your home minus what you still owe on your loan. Your equity has gotten a big boost over the past few years.
Here’s why this can be such a game changer when you sell. You can use that equity to put down a larger amount on your next home. In some cases, you may even be able to buy your next home in cash, avoiding mortgage rates altogether. Bottom line, your equity could be the kay to making your next move possible.
Will I Be Able To Find a Home I Like?
Do you remember just how low the supply of homes for sale got over the past few years? It felt nearly impossible to find a home to buy because there were so few available.
But finding a home in today’s market isn’t as challenging. That’s because the number of homes for sale is growing. That gives you more options to choose from.
And even though inventory is still below pre-pandemic levels, this is the highest it’s been in quite a while. That means you have more options for your move, but your house should still stand out to buyers at the same time.
It’s important to note, though, that this balance varies by local market. Some places may have more homes for sale than others. Working with a local real estate agent is the best way to see what inventory trends look like in your area. Call or text me, Ben Keeney, if you are in the market to sell. 203-313-0013
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