Many homeowners are waiting for the price of their home to go up before they sell. What people don't realize is this will not ultimately result in a higher profit. This is because:
- Other home prices will rise as well, which means your next home will be more expensive.
- Interest rates will also rise if you wait too long to put your home on the market. Higher interest rates may completely eclipse the extra value you get from your home sale by waiting.
- If you are looking to build a new home, the price of construction will also have risen in the time you waited.
It may not be the best decision to wait for home values to rise. Rather, the best move you can make is to begin work on getting your home in the best possible condition and putting it on the market at an attractive price. By doing this, you can generate multiple offers and get top dollar for your home without having to wait. You need to make your move before prices and interest rates go up - waiting will only hurt you down the road.
If you are interested in selling or buying a Hawaii home or want further advice on how to take advantage of ideal market conditions, please give us a call or shoot us an email.