Buying a home is one of the most exciting things that a person will do in life. You should sell your home now if you intend to move to a shinier and newer house in a great neighborhood. This is because there are various favorable conditions for buying and selling, which will not last long! Here are some of the reasons why you should be selling your home to upgrade for a better one:
There is a decrease in negative equity
There are a lot of free houses out there, and people have really improved. In the past, there were so many people that had mortgages but after the mortgage crunch got worse in 2013, many people sold out and got rid of negative equity. At least 1.9 million people are expected to sell out their mortgages and enter the positive equity bracket within the next year.
You will be able to get a nice house when you sell. Don’t waste time and wait for all the good spots to be taken!
Interest rates are at a low
There was a recent scare when people were unable to service their mortgage loans. This became the worse mortgage crunch in the history of the United States! These interests are projected to be rising again and so you are better off selling your home now, before rates go up again.
The truth is that it is better for you to sell your home while your mortgage is valuable. If you intend to buy or mortgage your home, the next year will see your home owning expenses increase. If you are going to take a step, it should be now.
There are more buyers
Most people who were put out of their houses in recent foreclosures have recovered. Now is when they will start looking to buy a new home, and they will not be looking to mortgage. More and more Millennials are also getting in the market. You can use this influx in demand as an advantage in your favor.
New construction is on the rise
As the real estate market recovers, the new home projects that were put on hold are starting up again. You will have an abundance of brand new homes to choose from as the surplus of foreclosed homes reduces.
Don’t wait any longer. Now is the time to sell for more money, and a better upgrade for your family.