Interest Rates Dropped – Should I Sell My House? 

If you’re ready to sell your home, Austin Moyer Real Estate Team at Coldwell Banker is ready to guide you through the process. With interest rates coming down, you might be wondering if now is the right time to sell. It’s a great time to sell–here’s why! If you want to understand more about why interest rates change in the first place, we have some great information in this article. 

1. Lower Rates Entice Buyers! 

When someone is buying a home it can be intimidating to buy with a high interest mortgage. That’s because the buyer has to allocate extra funds to pay the interest which takes some funding from what they can spend on the house itself.  Many buyers have been waiting for this opportunity to get more house for their money. That means it’s your home’s time to shine and show its value to potential buyers who are ready to make offers. 

2. The buyer gets more bang for their buck 

The buyer spends money on the part they actually want to spend on: their dream home. This means they have more dollar to stretch into the property that you’re selling instead of budgeting it for interest payments. With lower rates, demand rises because the terms are more favorable. Which means you’ll get more offers from buyers who are more confident in their purchase plan. 

3. More Competitive Offers 

With lower rates, there’ll be more buyers ready to enter the market. This means you can hope to receive more offers. You may also encounter more first time home buyers, who qualify for government incentives to help them buy. Everything that helps the buyer helps you sell your home. 

4. Find Your Next Dream Home At a Better Rate 

If you’re in a home right now that you’ve outgrown, it’s time for you to upsize or downsize. If you have equity in your current home, this might be a great time to put it toward a home that better suits your current or changing life. An experienced realtor can help you handle both selling and buying! You might as well take advantage of those falling interest rates, too. 

5. Maximize your asking price with minor upgrades 

If you’re ready to sell and you want to attract the most competitive offers, take some time to make your home look like a dream. Tidy up and make those minor repairs. When you take the time to make the windows glisten, you make a huge difference on the impression of potential buyers, which can help yield more competitive offers. 

If you’re ready to benefit from selling during this market, we can help you get this started. Please don’t hesitate to reach out at 585-505-7012 or email me at austin@coldwellbankerwny.com 

We look forward to working with you!