Four things to consider when deciding if you should enter the market.
When is the best time to enter the real estate market? Everyone wants to time their home sale or purchase perfectly, but in reality, most people make a move because of a major life event or various financial reasons. However, if you have the luxury of choosing when to move, here are a few things you should keep in mind:
1. Every market is different. Just because the national media says a sweeping statement about the housing market doesn’t mean it’s true for your area. Keep in touch with a local expert so you can be sure that your information is relevant and up to date.
2. Interest rates fluctuate. Most people need a mortgage to purchase a home, but interest rates have already increased in 2022. They’re expected to increase throughout this year, so it’s more important than ever to work with a local lender. Many buyers work with a big bank by default, but in my experience, you can usually get a better rate by working with someone local.
3. Seasons change. Traditionally, spring is the strongest selling season. However, supply is so low that buyers are looking for properties no matter what time of year it is. This means you shouldn’t worry too much about which season you sell. Instead, focus on getting your home ready for the market. Clean, declutter, and make small repairs to get your house in the best shape possible.
“It’s more important than ever to work with a local lender.”
4. Money isn’t everything to everyone. Buying a home isn’t always practical based on your life circumstances. Maybe you’re ready to buy now, but you want to finish graduate school before settling down. Whatever your reason, make sure it makes sense practically and emotionally for you to move.
If you have questions about today’s topic or anything else, please call or email me. I am always willing to help!
