What If I Wait Until Next Year to Buy a Home?We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained
Planning To Move Up To A Luxury Home Now May Be The Best Time
If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.
The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.
Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.
The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.
But not all who are buying luxury properties have a home to sell first.
In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:
“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”
The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.
Russell and Melissa Banki cell 713-480-0889 or 936-445-0216 Best Priced Properties LLC Certified Negotiation Experts (CNE) Accredited Luxury Home Specialist (ALHS) Certified Home Selling Advisors (CHSA) Certified Home Buying Advisors (CHBA) Your Montgomery County Real Estate Experts. Ask us about our Smart Home Buying and Selling Strategy. CALL OR TEXT. As a local real estate experts in The Woodlands, Spring, Shenandoah, Magnolia, Montgomery, Conroe and Greater North Houston/Houston Metro areas we can save you valuable time & money! Contact us today. It would be our pleasure to help you with all your residential/commercial buying, selling or investment needs. We believe our clients should feel confident and benefit from selling or purchasing real estate.
Texas REALTOR® Hite Properties Best Priced Properties Team in The Woodlands, TX Cell: 936-445-0216 Office: 936-270-8090 ext 101 E-fax: 936-270-8774 Client First! We believe our clients should....
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This Just In: Data Says May is the Best Month to Sell Your Home According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you