While home prices have been on the upswing over the last couple of years, interest rates are set to rise soon from their all-time lows. If you’re thinking of selling, now is the best time to cash in on your home.
Here’s why the current market makes it a great time to sell your home:
Low interest rates keep home values up. As interest rates begin to rise, buyer demand begins to drop, and so may your home’s fair market value. Selling your home now while interest rates are low ensures you get the most out of your equity.
Lower mortgage payments on your next purchase. By selling now, you can take advantage of your increased equity to place a larger down payment on your next purchase and lock in today’s low mortgage rates before they rise.
The market is full of eager buyers. Demand is high and buyers are plentiful. Even better, buyers are ready and willing to pay more. Once listed, your home is sure to draw in offers and sell quickly.
Your competition is low. Demand is outpacing the number of homes on the market. This means you won’t need to compete with as many sellers for offers. Sell now while your home stands out and the market is in your favor.
A future increase in interest rates may weigh down your home’s value.
Act now before the seller’s market loses its steam and prices dip.