25 Mar Three Questions to Ask if You are Considering Selling your Home
It is no secret that the real estate market is currently experiencing low inventory and sellers have the advantage. Multiple offers are common, including cash and limited contingencies. Even though it is a market skewed towards sellers, buyers can still enjoy low interest rates and the long-term affordability they provide.
If you are on the fence about jumping into today’s seller’s market and listing your home, there are three questions you might ask yourself before taking the next step:
Am I ready to downsize?
For empty nesters or recent retirees, this may be the ideal time to take advantage of the equity in your home and the demand in the market. If the concern of ‘where will I go?’ is a factor, you can position the sale of your home to include a lease back option or delayed closing to provide the necessary runway to find your next home.
Is now a good time to focus on my investments?
In 2020, CoreLogic indicated that equity increased for the average homeowner by $17,000 in the last year alone. Savings in any form are a good thing and by selling your home today, you could receive a high dollar value that can be invested for expenses down the road, like college tuition or contributing to a down payment of a family member’s home.
Do I need to upsize?
Did you discover how small your home really was in 2020? Adding headcount or pets to your crew may mean now is the perfect time to cash in on that buyer demand and find more living space. Plus, if you have a starter home (often purchased by first-time homebuyers), you are almost guaranteed to receive a sale price that is extremely healthy thanks to eager buyers, possible multiple purchase offers, and rising prices.
If you fall into any of these three categories or need to sell your home for any other reason, we can help.
We can work together to determine the value of your home by reviewing comps and making a plan to get you into your next home where you can thrive. Find an agent today.