Selling your home is stressful and the process doesn’t always go the way you would like. Knowing when to sell your home is essential to making the process go as smoothly as possible. Learn why 2020 is the perfect time to sell your house as is.
Mortgage Rates Are Low
While many factors play into the rise and fall of mortgage rates, one thing is for sure. Mortgage rates are low right now making it a perfect time to sell a home. The market is saturated with buyers which means you’ll be able to command a higher price for your home. According to Bloomberg, mortgage rates tumbled to a record low of 3.29% in 2020. This means the current economy provides the perfect environment for anyone who wants to sell their home and realize a maximum profit since you won’t have to negotiate the selling price too much.
New Buyers Continue to Enter the Market
If your home is on the higher end of the selling price, you may have less buyers looking at your home at that buying level. However, if you’re selling a starter home that’s priced less, then you’ll have buyers ready to make a move on your home. Millennials will continue to make up a large part of the home-buyer market who are looking to purchase their first home. When there are more buyers than there are homes for sale, you can be confident that you’ll be able to command the highest price for your home
You Have Significant Equity in Your Home
If you’ve been living in your home for a few years, then you’ve likely built up some equity. The great thing about real estate is that, unlike a car, it appreciates. That’s good news when it’s time to sell your house. Even if you sell your house as is, you’ll likely realize a significant amount of equity in your home. No matter if you plan to buy a bigger house or move to a more desirable neighborhood, the amount of equity in your home will help you realize those goals.
Home Prices are Rising Slowly
Home prices have increased slightly, but the increase isn’t something that will make you a big profit when you go to sell your home. The increase in home prices is expected to continue throughout 2020, but such growth won’t happen as it has in previous years. In order to price your home right, you need to be aware of the competition. There may be fewer offers out there so you want your home to stand out. It’s important to prepare your home for prospective home buyers and price your home right so that you’ll attract the best offers.
Expensive Renovations Aren’t Necessary
If your home isn’t perfect, you may be inclined to make expensive repairs to make your home more marketable. Keep in mind, however, that a majority of the houses on the market need a certain amount of repairs but manage to sell without any work being done at all. Choosing to make renovations can delay the sale of your home. You will also need to determine what your cash flow will look like after the renovations and if doing so will add to the value of your home enough to justify making the repairs. Sometimes it’s best to sell your house as it is to make the most cash from the sale.
Investors Are Interested in Your House
Sometimes the most eligible buyers don’t even want to live in the house they want to buy. In fact, there are investors out there looking for homes that need a certain amount of work that are priced to sell. Newly renovated homes will be less attractive to these buyers. Rather than dealing with expensive renovations, consider the possibilities if you sell your house as is. You won’t have to deal with open houses, negotiating or making repairs to make the sale a reality.
Selling your home doesn’t have to be a headache. If you’re ready to make some cash from your house, consider the option to sell your house as is. Request a cash offer from WeBuyHouse to find out how much you can sell your house for.