Amidst a global pandemic, many people are wondering if they should sell their homes or wait it out. Here’s what you need to consider before making a decision. this contact form
The Pros of Selling Now
If you’re thinking of selling your home, there are some potential benefits to doing it now.
For starters, interest rates are at an all-time low. That means if you’re looking to buy another home, you can finance it for less. This is especially beneficial if you’re considering upsizing or downsizing.
It’s also worth noting that the COVID-19 pandemic has led to more people working from home than ever before. If you have an extra bedroom or space that you can convert into a home office, that could be appealing to buyers who are now accustomed to working remotely.
The Cons of Selling Now
Of course, there are also some potential drawbacks to selling your home during the pandemic.
For one thing, showings may be more difficult to coordinate since people are still practicing social distancing. This could mean your home spends longer on the market than usual.
It’s also possible that potential buyers may be hesitant to make such a big purchase while the economy is still in flux. According to Forbes, “In a recent Redfin survey, 2% of respondents who were already planning on buying a home said they had postponed their plans due to coronavirus.” So if you do list your home now, you may want to be prepared for a longer journey to find the right buyer.
The Pros of Waiting it Out
If you’re not sure whether now is the right time for you to sell your house, you may want to wait and see how the market plays out in the coming months. By waiting, you’ll have a better idea of what buyer demand looks like and whether prices have gone up or down.
There’s no wrong answer when it comes to deciding whether to buy or sell your house during the COVID-19 pandemic—it all depends on your unique circumstances. If you’re thinking of selling, now may be a good time due to low interest rates and increased demand for spaces that can accommodate remote work. However, you may want to brace yourself for a longer journey to find the right buyer. On the other hand, if you’re not sure whether now is the right time for you, waiting awhile may give you a better sense of where the market is headed. Whichever route you choose, make sure you consult with a real estate agent so they can help guide you through the process.