As 2021 is wrapping up with a record housing year, 2022 is shaping up to be another one. Although the Fed has signaled, they are open to raising interest rates to offset inflation, the housing market is expected to continue to remain strong. While many may think this could slow the housing market (and it could), this will help lower the cost of materials and supplies such as lumber and plumbing supplies. As the old saying goes, “It will all come out in the wash,” is relatively accurate when considering the correlation between the two. Are you thinking about selling your home in the new year and curious if the time is right for you? Here are a few things to consider:
Is this the right time for you?
Of course, factors like seasonality and local market trends play a role in your decision-making process, the most important considerations are personal. The first step is to consider your finances. Yes, you may be able to get top dollar for your home, but you could also pay top dollar for another one.
How much can you afford to spend?
Now that you’ve considered your finances and what comfortably fits your budget, it is a good idea to get pre-approved for a mortgage if you will be financing your new home. Today’s market is very competitive and buyers that can show sellers they are serious are more likely to have their offer accepted.
What are your must-haves?
If you have decided that now is the time to make the move, make a list of your must-haves that you can’t live without. Do you want to stay in a specific school district? Do you need a home office? Do you want a bigger lot?
Now the fun begins, and you can confidently start your search knowing that when you find your dream home, you will be ready to make an offer. Hiring a professional real estate agent is one of the best ways to buy and sell a home. They will help you search for homes, schedule showings, help you make an offer, and work with you throughout the entire process.
Contact Stutesman’s Action Realty today to find your new home in the new year.