Current Advantages to Buying and Selling a Home
If you’ve been tossing around the idea of selling your current home and moving into a larger home, now is the time to make the bold move. The real estate market is currently favoring sellers as the demand for houses has skyrocketed due to low inventory. Even with that said, you may still be questioning whether it is in your best interest to move right now, but there are plenty of benefits relating to current real estate market trends if you make the decision to sell.
Get Top Dollar for Your Current Home
The real estate market is experiencing high demand, while the rate of supply remains extremely low. Because there is low inventory, buyers are purchasing the houses available at or above asking price. There is little room for haggling, and single listings are receiving multiple offers. By choosing to sell your current home during such a hot buyers’ market, you give yourself a rare opportunity to potentially receive top dollar and sell quickly.
Low Mortgage Interest Rates
The mortgage rates are relatively low, with some lenders charging an interest rate of below 3.5%. Low rates are giving buyers a boost in their purchasing power, meaning more buyers can afford to purchase a home. Even millennial buyers who are buying their first home have a higher likelihood of purchasing your home fast.
Larger Home, More Space
Spending more time in your current home during the pandemic may have made you realize what kind of space you are missing. Whether you need a larger outdoor space for family, a dedicated home office, or more bedrooms for a growing family, rethinking your space in your ideal home can keep you comfortable for years to come.
Take Advantage of Tax Advantages
In the US, married taxpayers have a rare opportunity of excluding an average of $500,000 gain. If you are single, you can exclude up to $250,000 when you sell your home. The tax benefits will help you save more money, and as a home seller, you should stay up to date with the tax benefits you are eligible for.
Now Is the Time to Sell Your Home at Top Dollar and Move
Taking advantage of the hot buyer market is very paramount. Our Gateway Realty agents will make the process seamless and help you acquire a bigger home that is ideal for you and your family. Contact us for more information.