The only thing that compares to the anxiety of buying a home is knowing when to sell it.
Over 5 million existing homes will be sold in the US this year, but demand still outpaces supply. You could take advantage of that in 2019 to make the most out of your property.
Let’s take a look at 5 benefits of putting your property up for sale in 2019.
1. An Equitable Arrangement
The average homeowner holds onto their home for around nine years at the moment. And if you bought your home nine years ago, then you were riding the recovery wave of home prices following the last recession.
That means equity has been slowly building on your home for the last nine years or so. Combine that with any improvements you’ve made, and you could see a big difference between the price you bought for and what you can now sell at.
2. The Next Generation
Millennials are finally coming into the money. Older millennials are now into their 30s — or prime house-buying age.
While there’s been plenty said about the millennial generation’s lack of money, they’re no less interested in owning a home than previous generations. And, now into their 30s, they’re more likely to have the disposable income to finally achieve it.
3. The Present is a Gift
Source: https://si.wsj.net/
It’s true: a recession is looming. Economists believe we’re overdue for or on the cusp of another recession. And in recession, the last thing on most minds is buying a new house.
That means you’ll be facing a smaller market of buyers if you sell up after the recession kicks in. Presidential elections in 2020 are only likely to increase economic uncertainty, too.
So selling up in 2019 could give you the best chance to reach the largest pool of buyers until we emerge on the other side of recession — whenever that is.
4. Supply and Demand
For a long time now, the US housing market has been working with an inventory gap. But the supply is slowly stabilizing, catching up with the demand.
As that recovery continues, the demand for your individual property will decline. You’ll have fewer buyers knocking at your door.
So it makes sense to sell while the supply is still in recovery, giving you the biggest captive market of buyers possible.
5. Moving On Up
Of course, selling your property isn’t all about data points. It’s also a chance to move on at a personal level.
There’s always property for sale, whether it’s domestic or abroad. Selling your property could unlock an exciting new future for you, whether it’s an investment or your own lifestyle.
If you’ve owned your home for the average of nine years, your life circumstances and even your long-term goals may have evolved. Perhaps it’s time to lean into those and make a new start.
Selling Your Property in 2019
Source: https://www.wiseman.co.uk/
Those are just 5 compelling reasons for selling your property in 2019, but they’re not to be ignored. Selling now could be the best decision you ever make.
If you have just inherited a home and are looking for ways to sell it, SoCal Home Buyers can help you through all the legal processes without hassle.
Decided to stay put? Take a look at these easy and inexpensive ideas to spruce up your home.
