“Should I sell my house?” That’s one of the most pressing questions for homeowners in 2019. If you’re one of the many who are wondering whether or not they should sell, you’ll want to know if it’s a good move.
Selling your house might seem a bit intimidating with the current decline in buyers. But with relatively low interest rates and a possible recession on the horizon, this year may be a better time than you think.
If you’re looking to sell your home, check out these reasons why selling in 2019 is a good idea.
Buyers Are Still Looking for New Homes
It’s true that buyers may be more hesitant to make offers because of rising interest rates. However, low housing inventory can encourage buyers to make that purchase anyway. This is especially true among millennials, many of whom plan to purchase their first home within the next year.
The decrease in buyers may also slow the pace of rising home prices. A leveling of prices is encouraging to new buyers, which in turn benefits the seller.
While selling a house may take a bit longer this year than previous years, buyers are still out there and looking. Be patient, offer incentives, and stay flexible. Making a profit on your home is still possible.
Interest Rates are Still Reasonable
Interest rates are steadily rising, but they’re still fairly low this year. They’re higher than they have been in about a decade but still lower than the historically high rates in the early eighties.
Low-interest rates are not necessarily normal. It may seem that way since they’ve been low for so long. Interest rates are climbing and many informed buyers are aware of this.
To take advantage of the current low-interest rate appeal, it’s wise to sell your home sooner rather than later. You’ll be more likely to find a buyer that’s willing to pay close to what you’re asking for your home.
Your High Equity
If you benefited from interest rates that were historically low when you purchased your home, your home equity has grown. Each payment and every renovation you made raised your equity.
Because your equity is higher, you’ll likely get more from the sale of your home. If you plan to buy again, this could mean you’ll be starting out with a hefty down payment for your new home.
Beat the Recession
Most agree that the next recession is fast on its way. Though some believe it will take a while to hit, others believe this may occur as soon as 2020. To beat the recession, the best time to sell a house may be now, not next year.
Should I Sell My House?
For those of you asking, “Should I sell my house?” the short answer is yes. The market is better right now than it will be in the future. It’s best to make this decision now before selling a home becomes more difficult.