You may find that 2022 is an optimal time to put your property on the market.
- Many sellers have held off on listing their homes during the pandemic.
- It could work to your benefit to sell your home in the new year.
To say that it’s a seller’s market right now would be an understatement. Ever since mortgage rates dropped to historically low levels in 2020, buyers have been clamoring to purchase homes. If you list your property in 2022, there’s a good chance someone will bite.
But that’s not the only reason to consider selling in the new year. Here are three more that may prompt you to list your home.
1. Home prices are super high
The Federal Housing Finance Agency reports that U.S. home prices were up 18.5% during 2021’s third quarter. Chances are, home prices will remain high well into 2022. That gives you, as a seller, a prime opportunity to make a decent chunk of money once you list your property.
2. There’s not a lot of competition
We’re starting off the new year with a housing market that’s seriously lacking in inventory. The result? If you list your home, you probably won’t have much competition. That could set the stage for a quick sale at a price you’re happy with.
In fact, you may find that due to limited inventory, your home winds up in a bidding war. That could leave you with a much higher price than your initial asking price.
3. You may no longer need to pay a premium for office proximity
You may have purchased an expensive home back in the day to cut down your commute time to your office. But at this point, many people have been working remotely for almost two years, and companies are starting to reconsider whether employees actually need to show up to an office.
If you’re granted permission to work remotely on a long-term basis, you may not need to carry such a large mortgage for a home that’s in a prime location. Instead, you could sell that home and buy a more affordable one elsewhere.
Ask yourself this question before selling your home
Clearly, there are plenty of compelling reasons to sell your …….