If you’re concerned about how you’ll manage the cost of your next home, it’s worth
noting that you likely have more equity in your current property than you realize.
Over the past few years, homeowners have seen significant equity gains, and this can
play a major role when you’re ready to purchase again. In fact, your equity may be
enough to allow you to buy your next home with cash, eliminating the need for a
mortgage altogether. As Jessica Lautz, Deputy Chief Economist at the National
Association of Realtors (NAR), explains:
” … those who have built equity through rising home prices are the big winners in
today’s housing market. For these buyers, interest rates may not play as large of a
role in their decision-making.”
If these concerns have been stopping you from selling, hopefully, this information
helps put your mind at ease. A recent survey by Realtor.com found that over 85% of
potential sellers have been contemplating a move for more than a year. Many, like
you, are still uncertain.
Interestingly, 79% of those who recently chose to sell wished they had done so sooner.
Ultimately, If you’d like to explore these topics in more depth or require further information, don’t hesitate to get in touch. I’m here to help!