Overcoming the Top 2 Concerns About Selling Your Home

Wondering If now’s the right time to sell? Address these two common concerns If you’re on the fence about selling your house, it’s likely because you have some unanswered questions. Maybe you’re unsure if moving makes sense in today’s market, or you’re worried about finding a home that fits your needs. Let’s break down these concerns and tackle them head-on.

Is It a Good Idea to Move Right Now?

Many homeowners hesitate to sell because of concerns about taking on a higher mortgage rate for their next home. However, the equity you’ve built in your current home could make your move more manageable than you think.

Equity is the difference between your home’s market value and what you still owe on your loan. Thanks to the significant home price appreciation in recent years, your equity has likely grown substantially. According to Dr. Selma Hepp, Chief Economist at CoreLogic:

“Persistent home price growth has continued to fuel home equity gains for existing homeowners, who now average about $315,000 in equity – almost $129,000 more than at the onset of the pandemic.”

This increased equity can be a game-changer. It allows you to put a larger down payment on your next home, reducing the amount you need to finance. In some cases, you might even be able to buy your next home outright, avoiding mortgage rates altogether.

The takeaway? Your equity could make your next move not only possible but financially advantageous.

Will I Be Able to Find a Home I Love?

Worrying about inventory is natural, especially after recent years when homes were in short supply. But today’s market looks different.

The number of homes for sale has grown significantly, giving you more options to choose from. Data from Realtor.com shows that inventory is up nearly 30% year-over-year. This means finding a home that suits your needs is now much more achievable.

While inventory is still below pre-pandemic levels, it’s currently the highest it has been in quite some time. This means you’ll have more options for your next move, while your home remains appealing to buyers. It’s a great position to be in!

Keep in mind that inventory levels can vary by location. Some areas may have more homes available than others, so partnering with a local real estate agent is key to understanding the trends in your market.

Bottom Line

If you’ve been hesitant to sell, don’t let these concerns hold you back. With the right information, you can confidently plan your move. Connect with a local agent to get the insights and guidance you need to take the next step.