Have you ever found yourself standing in your home, looking around, and thinking, “Should I move? Is now the right time to sell? Will I find a home that will fit our lifestyle better?”
f the thought of higher interest rates has made you hesitant about making a move, I get it. After all, it may seem as though holding onto your current mortgage with a lower rate is the safer choice.
But here’s the thing: regardless of where interest rates are, if you’re feeling like you’ve outgrown your current space or it’s just not quite fitting your needs anymore, it might be time to make a change.
Here are just a few reasons why you should consider making a move, regardless of your current lower interest rate:
① Your value has appreciated, and so has your equity.
In recent years, with double-digit appreciation, home values have increased drastically, which means so has your equity. Leverage the increased equity from your sale and purchase a home that fits your current needs and lifestyle.
② We are still technically in a seller’s market.
Higher interest rates often coincide with a seller’s market, where demand outweighs supply. This means you can potentially secure a higher sale price for your home than if you were to wait a few years for a more “balanced” market.
③ There will never be a “perfect” time to move.
Timing the market perfectly is a myth, and the truth is, there is no “right” time to buy or sell a home. Rather than obsessing over market timing and interest rates, shift your focus to your personal goals and circumstances, and creating a better quality of life for you and your family.
④ There are ways to buy and sell at the same time.
There are numerous ways to buy and sell at the same time so that you don’t have to find short-term housing and storage units. Ask your agent and lender about the options available and which one would work best for you and your current circumstances.
If you’re still unsure about what to do or just want to chat about your options, message me. I’m always happy here to help you navigate the world of home buying and selling.