Whether staying or exploring a new home is the right choice.
Today, we’re going to discuss the topic of deciding whether to stay or go when it comes to your next move in the real estate market. With numerous headlines about our local real estate market circulating, it’s natural to question whether it’s the right time to make a move.
There’s no denying that the current market presents some challenges. Buyers are facing higher prices, existing home sales have dipped compared to previous years, and interest rates have increased since 2020 and 2021. In light of these factors, many individuals are pondering whether to stay in their current homes or start exploring other options.
Allow me to offer some insights on how to determine which path is right for you. Let’s consider three scenarios where it may be more sensible to stay put:
1. You love your current home and have plans to reside there for at least the next five years.
2. You’re locked into a fantastic fixed interest rate and cannot afford the payments on a new home, given the current interest rates.
3. You’ve recently moved into your current home and haven’t accumulated enough equity to cover the expenses associated with relocating.
However, there is one group that should consider kicking the tires on their next move—the group that genuinely desires a new home but has concerns about finding a suitable replacement property once their existing one is sold. It’s understandable not to want to be caught in a situation where you’re stuck between properties.
So, what should you do if you fall into this category? The answer depends on your specific circumstances. Upon discussing your concerns, you might discover that the reasons compelling you to consider a move can be resolved within your current property, eliminating the need for such a significant change.
Fortunately, we have had the privilege of conversing with hundreds of individuals facing the same dilemma—should they stay or should they go? This experience has taught us that meaningful conversations and expertise play a crucial role in making informed decisions. If this resonates with your situation, I welcome the opportunity to engage in a conversation with you, guiding you through the decision-making process and helping you determine whether moving is the right choice for you at this time.
Please don’t hesitate to contact me via email, phone call, or text. Additionally, if you have any other real estate-related questions or topics you’d like me to address, feel free to reach out. I’m here to assist you.