07/21/2023
Have you ever found yourself, looking around at your home, and thinking, "Should I move? Is now the right time to sell? Will I find a home that will better fit our lifestyle?"If the thought of higher interest rates make you hesitant about making a move, that’s understandable. 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 change.
Here are a few reasons why you should consider moving, regardless of your current lower interest rate:
① Your value and equity has appreciated,
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. 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. Rather than obsessing over market timing and interest rates, shift your focus to your goals, and creating a better quality of life.
④ There are ways to buy and sell at the same time.
There are numerous ways to do this 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 would work best for you and your current circumstances.
If you're still unsure about what to do, message us.
