Should You Sell Your Home In Today’s Market?

Should You Sell Your Home in Today's Market?

The volatility of the global economy at the moment has created an intriguing and complex set of circumstances which means that if you have the cause to do so, it is very cheap to borrow money from mainstream lenders at the moment.

The most obvious way to leverage this state of affairs is to get a mortgage and buy a home, which is why more first-time buyers are house hunting and getting on the ladder right now. But what about if you already own property; is now a good time to sell up and move to your dream home?

Low Rates Drive Demand for Housing Stock

The fact of the matter is that when mortgage rates are low, the demand for housing is high, which in turn means that sellers can achieve more appealing asking prices for their property without fear of putting off prospective buyers.

Of course, things can change quickly, so keeping an eye on the current mortgage rates using a site like Moneywise is a good idea if you are aiming to pick the perfect moment to sell, or avoid an upcoming slump in demand driven by rate hikes.

When you do sell your house, the strong demand fuelled by low rates will mean you have more money to play with when choosing your next property, although of course, the knock-on effect will mean that prices here will also be higher. If, on the other hand, you are selling an investment property, this will be less of a concern.

Increased Competition Catalyzes the Sales Process

Another reason to sell your home in today’s market is that increased demand from buyers means that there is more motivation amongst those in the market to push through sales and make decisions quickly, rather than dallying and delaying as they might do in more stagnant circumstances.

If you are still living in the property when it goes up for sale, this will also mean that you are less likely to have your routine disrupted by the need to allow agents in to handle viewings or to get out of the way altogether to facilitate an open house event.

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