For those who have been paying attention to the housing market over the past few years, there’s no doubt that you’ve noticed that there have been some rough patches. However, it finally seems as though the market is back on track and booming more than ever in the past decade. Housing prices are now consistently on the rise and if you have been questioning whether or not you should sell your home, Forbes has offered a few reasons why now may be the best time to take the plunge:
Equity Advantage – When the market was a little less than ideal, many homeowners experienced a huge decrease in their equity. In fact, a great number of these owners ended up having to pay the bank or list their home as a short sale simply because they owed more than their home was actually worth anymore. Then there were those who did have equity but though they may have wanted to sell, they didn’t want to risk the chance of low sale prices making it disappear. Due to the market upswing, now may be the perfect time to sell.
Growing or Shrinking Family – Regardless of whether you’ve just welcomed baby number three or if you’ve just sent your youngest off to college, your home many not be conducive to the amount of people actually living in it anymore. Whether you need to expand or downsize, enter the market this spring and take advantage of current interest rates.
Interest Rates are Low – Now is the best time to get a good mortgage on a new home after you sell your old one. Interest rates are only going to keep going up, so why not get into the market and take advantage of the rates while they’re still at an all-time low?
For the longest time, the housing market bust was causing homeowners to hold onto their properties, no matter how much they wanted to sell. Don’t wait any longer; the time to sell is now.
(Source: Forbes)