The Cost of Delaying Your Home Sale

If you’re considering a sale, you already know that—with low inventory and high demand—you’re in a terrific position to receive multiple offers and potentially sell above list price! But after your sale, should you be concerned about related difficulties as a buyer?
 
This is a common concern, and we absolutely understand the apprehension to take the plunge and sell when it seems it may be difficult to turn around and become a buyer!
 
While it’s true that buying a home during a period of low inventory is often more challenging, the advantages of today’s mortgage rates may very well offset any potential downsides. What’s more, there’s a very good chance that you’re sitting on considerable equity if you’ve held your current home for more than a few years (as local values have appreciated rapidly!)—and, you may see better returns on that equity by reinvesting elsewhere or by reducing more expensive sources of debt.

Consider the data above, comparing current mortgage rates against historical numbers. By purchasing today with a $500,000 loan, an average monthly payment would be nearly $400 less each month than it would at 2018’s average rates! And, compared to 40 years ago, a full $4,800+ per month less!

The key to success is working with a dedicated and knowledgeable Broker who can help build a custom plan suited for your needs.
 
Our team would be honored to assist you with any questions you have about buying or selling in this market. Give us a call at 360-930-8150 or visit our contact us page to request a free copy of our home seller’s guide, our market preparation checklist, or a consultation with a great Broker on our team.
 
We look forward to helping you reach your real estate goals!
 
 
 
Note: Mortgage rates provided (as of national averages on 2/19/21) are for illustrative purposes only. These rates are no guarantee of local availability or your unique rate adjustments due to credit history. We recommend speaking with a mortgage lender for numbers unique to your finances and location.

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