Is Now the Time to Sell your Home
2020 was a year we won’t forget. Even though we all wish that we could! It brought a lot of uncertainty, frustration, fear, and division. Trust me when I say, I am so glad to be seeing 2021! Even though 2020 was monumentally a bad year for us all… It made us realize what is important to us! Family, friends, health, freedom, and home.
This next year is when we all hope to be making a comeback! Catching up with our friends in person, hugging our family’s with no fear, having birthday dinners in public, holiday parties WITH everyone in our homes again, and being able to go maskless again! This new year shows promise of a new start for us all. Maybe 2020 made you realize that you actually need to be closer to your family. Or maybe you want to take a risk by moving to a new state after seeing how life can change in an instant! Even though we have come to see the important things in life and now want to plan our futures accordingly- does that mean we have the ability to do so? You may be thinking, “I want to make this change but is it the right time?” Well, I’m here to help you decide if you should sell, or wait a bit longer!
You have a starter house: If you have a house that is considered to be a starter home… 2021 will be your year to sell for sure! These homes are always being bought quickly. Especially at entry-level pricing! Of course, depending on where you live; those prices vary. Usually, entry-level pricing is between $150,000 and $250,000. So if you have a small one or two-bedroom home, this year may be your year to sell!
Homes in your market are selling quickly: If you need to move quickly for whatever reason… Whether that be due to losing your job during the pandemic or moving closer to your family. If you are in an area that is seeing homes fly off of the market, then that is a great indication that it’s a good time to put your home up for sale!
Low interest rates: This pandemic has surprisingly kept interest rates even lower than before it began! The average interest rate for a 30-year fixed mortgage is currently 3.00%. Even as the low rates are great for an affordable mortgage, there just aren’t enough properties on the market at the moment! And with that, we expect home prices to rise to balance it all out. The interest rates are suspected to rise throughout 2021, but they should still remain low compared to other years. So again, this year should be one where you strongly think about selling your home!
If you are in the position where you can price your home a bit higher; then that gives you the ability to get more equity out of your home! Especially with a high demand for homes, but a low number of houses for sale then that puts you at an advantage. If you have a larger home in the suburbs or in rural areas, your home may sell quicker this year as more people are looking for larger, multigenerational homes. Especially with more people looking for homes that are spaced farther apart!
If you are wanting to start a new chapter this year by downsizing, upsizing, moving closer to family, or relocating- this may be a wonderful chance to do so! There have been quite a few negatives that this past year has brought upon us. Luckily though, we have found that we are resilient! We have technology that allows us to meet with each other virtually and still maintain connections. Even as we still don’t know 100% what this new year will bring… We can at least have an idea of what’s to come by what we already know! Thankfully what we are seeing is that this is a great chance to sell. Once your home is on the market you could potentially see various offers within a short time frame due to the supply and demand. So in my opinion, I think it would be a great time to reach out to your real estate agent regarding selling your home. May this new year bring you comfort and luck!