Should you sell my house? Rising interest rates indicate “Yes”
One of the big reasons buyers flooded the market this year - despite the uncertainty of a pandemic - was the historically low interest rates.
Low mortgage rates mean that buyers could save thousands of dollars over the lifetime of their home loan, so many potential buyers who were waiting on the sidelines began searching for their dream home. The incredibly low rates also meant that people could upgrade from their old home into a larger one while maintaining the same monthly mortgage payments.
With first time home buyers moving out of dense cities and into suburban areas this is a great time to list your home for sale - inventory is low and homes are going fast. If you are a multi-home family, now is the perfect time to consider selling one to take advantage of the current market demand.
Whether you've owned your home for one year or ten years - with the jump in prices over the last year - it's likely you've built up substantial equity. Right now is a great time to take advantage of pulling equity out of your home, tax-free, of up to $500,000.00 by selling your home in the current market.
Should you wait to sell? While there are advantages to waiting to sell your home, with today’s market, selling your home can lead to a higher purchase price than waiting.
Across the U.S., there are fewer homes on the market, period - and this is helping to push prices sky high. Sellers have all the bargaining power when there are so few homes to choose from, and low inventory often forces buyers to bid over asking price on homes.
By selling now, you get to reap the benefits of a low inventory market. That means a better chance at getting multiple bids, cash offers, no contingency offers, and above-asking price offers. Once buyers have more options, they’ll also have greater leveraging power when it comes to the closing table - and you'll be waiting longer for your home to sell.
In a competitive housing market, it’s important to weigh all your options before selling your home. If you’ve weighed the options and are ready to sell, we make it easy for you to improve your home value. With HouseAmp’s Pay Later program you can pay for your improvements now, and you won’t have to pay it back until your home sells. We will also connect you with the best service professionals in your area. Here at HouseAmp, we can help you improve home value through upgrades, landscaping, staging, and more!