If you’re in the market for a new home or simply looking to cash out on the equity in your existing home, there is no time like the present! Many property prices have been soaring high this year and there are countless property owners who have listed their homes, had multiple offers and have turned a profit within weeks or even days.
If you’re thinking about selling your home, here are 3 reasons why now may be the right time to do so:
1. Property Values are high
You’ve heard it said before– buy low, sell high. With the increasing value of property these days and the demand that buyers have created, now could be your opportunity to cash out on your home or property investment. The real estate market isn’t always a “seller’s market,” and now there may be your window of opportunity to get the greatest value out of selling your home.
2. Interest rates are low for purchasing your new home.
With interest rates in the 2-3%+ range, it’s ideal timing to borrow money to purchase a new home. The higher your interest rate, the less you’re paying on the principle of the loan and the more you’re paying the bank. Lock in these low interest rates while you can!
3. If you purchased after the crash you may have a considerable amount of equity in your home
Equity is simply the difference you owe on your home versus what it’s worth. Since some home values are high in 2021, it’s likely that if you may have equity in your home (meaning, if you sell your home, you may walk away with a handsome stack of cash). Your primary goal in selling your home, from a financial standpoint, is to sell your home at a point when you have the most equity– which may be now.
If you have more questions about selling your home in 2021 or simply want advice from an experienced Realtor, contact Katrina Bishop at kbishopvpragent@gmail.com or call 770-539-4224 and be sure to Mention Wealthy Property Owners.