When it comes to selling a house, timing is everything. There might be instances and situations wherein you have no choice but to sell your house, but if you actually do have enough time to think it through, then you should plan it well.
Below, we will discuss some of the reasons you should consider selling your home in 2020. This year is actually looking great for homeowners and sellers, so make sure to read everything before talking to a company that will give you a cash offer for your Dallas, TX home.
A Lot of Homebuyers are Looking for a New Home
This will depend on your home's value and pricing since we are all aware that houses that tend to be on the expensive side of the spectrum can be difficult to sell. However, if your home is in the middle to average when it comes to pricing, then you can expect an influx of buyers. A lot of Millenials and first-time homebuyers are looking to cop their first homes this year, so if you want to sell your home as soon as possible, consider pricing it at a fairly average price point.
Interest Rates are Still Quite Low
As an experienced homebuyer, you are most likely aware that the government charges interest rates when it comes to home buying. For the year 2020, interest rates are likely to stay low, giving new and experienced homebuyers a chance to get a new home.
Not only is this a huge plus for the homebuyers, but to you as well. You most likely are looking for a new home to live in, and with interest rates as 1.5% to 1.75%, you can cop the house of your dreams soon. The interest rate is said to remain unchanged for the whole year, so go ahead and make the most of it.
Go for the Equity
If you and your family have been living in your current home for more than a couple of years, then you have been building your equity. Your home's property value increases over time. If you constantly pay for your mortgage, then you can bet that your equity has grown dramatically in the past couple of years.
The bigger the equity, the bigger the profit when you have finally sold the property. Obtaining money is and has always been good, as this means that you can start over in a new house this year!
You Never Know What's Bound to Happen Next Year
Nobody knows what's in store for 2021 or the years after that, which is why it would be a smart move to sell your home this year. The interest rates might go up next year, plus, homebuyers might take a serious halt when it comes to homebuying by then. Also, a recession is expected to happen for the next year, which means that you will most likely have a difficult time selling your home when people are out of jobs. Needless to say, you might also find it difficult to buy a new with all that going on.
You still have plenty of time to plan and sell your house for the year 2020. The year has just started, so go ahead and call your agent today so you can start planning on selling your home!