Why Now?

If you’re going to sell a house, do it now.

If you’re going to sell a house in order to buy a house, do it now.

Interest rates are at all-time lows, and prices remain extremely low. As a homeowner, you might be tempted to stay in your home, even if you’d really rather not, because you’re afraid home prices will suddenly shoot up just after you sell your home. But you can’t look at it as you having lost money with the decrease in your home’s value. You have to evaluate the current situation and make the right move for right now, not the right move for five years ago.  

Consider this.

If you wait, one of three things will happen:

1. The house you currently own will be worth more, and the house you buy will cost more.
2. The house you currently own will be worth less, and the house you buy will cost less.
3. The value of your home will remain the same, and the house you buy will cost the same as it would now.

In the first two scenarios, you aren’t really gaining or losing money – it’s a wash. In the third, however, in addition to having spent another year in a home you don’t want to be in, you’ll be at the mercy of interest rates, which have nowhere to go but up, and often have a larger impact on the amount of money you’ll end up paying for your home than the initial price will. A one percent increase could mean a difference of tens of thousands of dollars over the life of your loan.

People are constantly telling you that ​now​ is the time to do everything, but in this case, ​they’re telling the truth!

Michael Dunsky Vice President of Mortgage LendingP: (508) 528-1800 F: (508) 749-7695Michael.Dunsky@guaranteedrate.com guaranteedrate.com/MichaelDunsky NMLS ID: 21372 38 Pond St, Ste 208 • Franklin, MA • 02038 NMLS ID 2611 Licensing Information: http://www.guaranteedrate.com/licensing