If you’re thinking of upsizing or downsizing, there are four reasons why doing either might make sense for you
Here are four reasons why upsizing or downsizing makes the most sense:
1. Equity. For the vast majority of home sellers, equity is at an all-time high. Whether you’re thinking of moving into a bigger home, finding a better location, or downsizing and cashing out, accessing this capital is part of the equation.
2. Interest rates. Interest rates are at a six-month low right now, and these low borrowing costs increase your buying power if you’re moving up and enhance your affordability if you’re downsizing.
3. Neutral market conditions. We seem to have transitioned out of the hyper-competitive environment that produced so many multiple-offer situations, and now sellers have to be more flexible. This makes contingent-sale offers much more of a possibility, so you’ll be able to sell and buy at the same time.
"We seem to have transitioned out of the hyper-competitive environment that produced so many multiple-offer situations. "
4. Inventory. Inventory levels are increasing, which gives you more homes to choose from—especially in the higher-end markets.
If you have any more questions about upsizing, downsizing, or contingent-sale offers, feel free to reach out to me by phone or email. I’d love to speak with you.