Time to Make Your Move: Unlocking the Potential of Today’s Real Estate Market

Making Your Move!

So, you’ve been eyeing the housing market, contemplating the idea of selling, and maybe even daydreaming about that next perfect home. Well, guess what? Now might be the ideal moment to turn those dreams into reality!

Why Now? Prices are Down!

First things first, the real estate market is in your favor! And I’m not just talking to the first-time buyers (although, hey, it’s a fantastic time for you too – reach out anytime!). This message is for all of you contemplating selling but holding out for those prices to move upward.

Maximize Your Profits with a Twist!

Now, let’s talk strategy. Most sellers want to get top dollar for their homes, and that’s a smart move. But here’s the twist: Waiting for prices to rise might not be the golden ticket you think it is. If the market takes off, the house you’re eyeing will also be on the rise.

Lower prices also mean more potential buyers, translating to fewer days on the market and less disruption from showings. It’s a win-win!

Thinking of Selling? Consider This:

Imagine the style of house and neighborhood you’ve got your eye on. Odds are those homes are priced higher than your current one. Let’s say you’re eyeing a $1,000,000 home, and your current place is valued at $750,000.

Now, if you wait for a 5% increase in your home’s value, you’re looking at an extra $37,500 in value for your home. Sounds sweet, right? But hold on. The market forces that increased your current home’s value also impacted the dream home’s value – that $1,000,000 home is now $1,050,000.

Let’s Crunch some Numbers:

Here’s a snapshot of what happens with a $1,050,000 purchase versus a $1,000,000 purchase:

Money in Your Pocket Every Year:

Across the board, that lower purchase keeps giving back. Your lower purchase is an investment that pays for itself with lower monthly mortgage payments and interest savings.

The Long-Term Gain:

Here is a nugget to ponder. Fast forward 20 years, assuming an average interest rate of 4% to calculate what that extra $50,000 really cost.  Now, there are a number of variables that could impact the final number, but on a straight line $50,000 over 20 years at 4%,  the interest payments would be approximately $47,000+.  The cost of waiting for your old house to increase in value had quite the long term impact. A reminder that interest rates right now are hovering around 5.64% on a fixed rate 5 year, I calculated the average rate on the $50,000 at 4%.  The cost could easily be higher.

So if it is me looking back, I would be asking why I gave the bank an extra $47,000 and the previous homeowners an extra $50,000 when that money could be working for me in my investment portfolio, or to pay for trips, cars, or other splurges for me and my family.

Don’t Wait for Perfect, Sell at the Best Time to Buy!

So, what are you waiting for? Don’t let the perfect time pass you by. Sell when it’s the best time to buy. Your dream home and the deal of a lifetime might just be waiting for you! Its time to make your move.

Ready to Make Your Move? Let’s Chat! Contact me through my website at JeffGriffith.C21.CA,  through email at jeff.griffith@century21.ca, or on instagram, facebook and linkedin at jeffgriffithrealestate