There are four very good reasons to consider selling your house in 2020. If you’ve been on the fence about selling, this may be the perfect year. Prices are high, interest rates are low, and there’s a whole bunch of new buyers on the market. Here are four reasons to sell your house in 2020.
#1. Low-interest rates.
This is great news for both buyers and sellers. Chances are, once you sell your house you’ll need to buy another one and because interest rates are low this benefits you and the buyer of your house. Interest rates are at an all-time low over the last seven years and are holding steady from December 2019, so it’s a great time to get more investment for your buck.
Additional: Are There Things Trashing Your Home’s Value?
#2. There are plenty of new buyers entering the market.
Homes are selling rapidly, which means there are new buyers all the time and because inventory is somewhat low, those homes are selling for higher prices. If your home is at the higher end of the price range in your market, you may expect fewer buyer interest, but, if you have an entry-level home or an average priced home for your area, your home will probably sell within days if not a week or two.
#3. You have high equity.
If you purchased your home 10 years ago, chances are it has increased exponentially. You may have even doubled what your home is worth. This means you have a lot of equity to roll into another house, which could mean that your payment may stay the same or increase by a small amount. This is definitely something a lender can work up with you.
#4. 2021 is unpredictable.
Most economists predict that 2020 will be a great year but 2021 could leave a lot of things up in the air. We may have a new president by then, the economy could be on the verge of going one way or another, and it’s just unpredictable. If you’re considering selling now, this year is way more predictable than 2021.
We would love to help you sell your Gulf Coast property so contact us today to find out what it’s worth and how quickly we could sell it.