As you think about the year ahead, one of the key decisions could be whether you want to move this year. If the location or size of your current home no longer meets your needs, finding a house that better suits your lifestyle might be a top priority for you. If you’re ready to make your decision, here are three reasons you might want to consider selling before spring.
- Be one step ahead of other sellers. In the residential real estate market, homeowners are less likely to list their houses toward the end of the year, and the beginning of a new year. That’s because people get busy around the holidays and deprioritize selling their house until their schedules and social calendars calm down.Selling now, while other homeowners are holding off until warmer weather, can help your house stand out. Starting the process today can get your house on the market ahead of your competition.
- Get in front of serious buyers. Even though housing supply increased last year, as buyer demand moderated, it’s still low overall. That means there aren’t enough homes on the market today, especially as the millennial generation reaches its peak homebuying years, according to Mark Fleming, chief economist at First American Financial Corp. Serious buyers still are looking this winter, and your house might be exactly what they’re searching for.
- Seize a great chance to move up. Today’s homeowners have record amounts of equity. According to CoreLogic, the average amount of equity per mortgage holder has climbed to nearly $300,000. That’s an all-time high, which means the equity you have in your house right now could cover some, if not all, of a down payment on the home of your dreams. Reach out to a trusted real estate adviser to help you determine how much home equity you have, and how you can use it to achieve your goal of making a move.
And, as you weigh the reasons to sell before winter is over, don’t lose sight of why you’re thinking about moving in the first place. Maybe it’s time to buy a house that’s in a better location for you, has the space you and your loved ones have been craving, or simply gives you that sense of home.
©2022 BHH Affiliates, LLC. Information presented is deemed reliable, but is not warranted. Equal Housing Opportunity.
– John Morris is the managing broker of Berkshire Hathaway HomeServices Georgia Properties’ Woodstock office. Questions about buying or selling? Email email@example.com, or call 770-517-2150.