2021 is the time for sellers. Currently, the market is hot, which presents the perfect opportunity for you to stage your house and put it up for sale. However, keep in mind that the inventory is low, which means the competition is quite high. You might not be able to find a new house anytime soon.
Now that we have put this out there for you to ponder over, let’s take a look at whether you should sell your house right now or not:
Growing Home Prices
By the end of 2021, home prices are expected to reach a record high. There will be an imbalance between demand and supply, which will make it more costly for you to buy a new house. Yes, homes are selling faster, which means that your Orlando real estate won’t stay on the market for long. However, you need to think about the future. What if you can’t find a house? Even if you do, what if it’s out of your budget? Gives you something to think about, right?
What makes right now the perfect time to sell your house is that you are bound to receive multiple offers. Many buyers will bid higher than your set asking price. However, this is not a guarantee. However, with a real estate agent by your side, your house might get sold for more.
Mortgage Rates Are Low
For the past year, mortgage rates have been low. For example, a 30-year mortgage is being offered at a 3% fixed interest rate. Now, the rates have dipped even lower. This has pulled many buyers into the housing market.
So, if your credit score is not in the “Good” category, start working on it. Pay your bills on time, pay down your debts, and stop making unnecessary purchases until your credit history is free of negative markings. The higher your credit score, the lower your interest rate will be.
Take Advantage of Home Improvements
Since housing prices are high, making improvements in your home makes sense. Refurbish the cabinets, make the countertops shine, install a deck in the backyard, re-tile the bathroom, change the bathtub, etc. Make sure that the price range does not exceed that of the comps in the area.
Upgrade Your Home According to WFH Trend
With COVID-19, one of the biggest changes that people have faced is working from home. This applies to students too. For the former, why not turn the guest room into a home office. As for the latter, stage the kid’s room in a way that it also has a study table.
We all know how staging plays a big role in selling a house. Make sure that there are no emotional elements on display in the house so that potential buyers can picture themself living in the house.
In conclusion ― yes, now is the right time to sell your house! Why not hire a professional Ocoee realtor for your Orlando real estate. To get in touch with a real estate agent, visit Megan Dowdy Realty or call on 407-509-9279.