Buying a home is one of the most exciting things that people do when they have enough money. You should sell your home now if you intend to move to a shinier and newer house located in a better neighborhood. This is because there are various favorable conditions for buying and selling which will not last long. Here are some of the reasons why you should be selling your home now and trading it in for a better one:
There is increased supply in real estate
There are a lot of free houses out there, and people have really improved. In the past, there were so many people that had mortgages but after the mortgage crunch got worse in 2013, many people sold out and got rid of negative equity. At least 1.9 million people are expected to sell out their mortgages and enter the positive equity bracket within the next year.
Of course this will mean that there are more houses to be sold. In this case, you will be able to get a very nice house to move into when you sell out. Do not waste time and wait for all the good spots to be taken. Sell your house if it is not making you happy as this could be your only chance.
Interest rates might rise again
There was pandemonium when most people were unable to service their mortgage loans. This became the worst mortgage crunch in the history of the United States. These interests are projected to be rising again and so you are better off selling your home now. If you have been having hard times servicing your loan, the situation might get worse with time and so you must look for a way to sell your home.
The truth is that whether you intend to buy or mortgage your home, the next year will see your home owning expenses increase and therefore if you are taking a step, then it must be now. The truth is that it is better for you to sell your home while your mortgage is valuable and think of buying a new one.
There are more buyers
Most people who were put out of their houses in the recent foreclosures have certainly recovered. They will be most likely trying to buy new homes and this time they will not be looking to mortgage. You can take advantage of this demand level to sell your house at a very favorable price in order to get a better one.
New construction is recovering
In mid last year, most real estate firms had gone south to Brazil to invest there due to the grim economic state in the country. This is no longer the case because now they are coming back as the real estate market recovers. You will have new and shinier homes to buy as there are many competing with the old foreclosure ones. Do not wait any longer because this is your only chance to own a home.