If you’ve been thinking about putting your home up for sale, you may want to put your thoughts into action in the coming year. Based on recent surveys and polls by the housing experts, many seem to think that 2018 is going to be a stellar year for sellers. From a host of eager buyers to the low-interest rates, the following are important reasons why it’s a great time to profit on your home’s sale.
Buyers are Eager
If you’re a homeowner, you’ve probably realized that owning a home requires maintenance to ensure it retains its current market value. A well-kept home can also mean you’ll have more buyers vying over your listing. Traditionally, the housing season begins in early March. But over the past few years, buyers have experienced extreme frustration over the lack of inventory in the housing industry. This has pushed many to begin the house shopping process earlier than normal. If you’re thinking about putting your home on the market, you may be want to list it soon, so you can try to secure an amount above the asking price.
Interest Rates are Still at Record Lows
The right exposure can assist sellers who are looking to list their property. Real estate signs draw attention to the listing using customizable signs. By conveying a simple message, you’ll be able to alert buyers to the sale of the property and any upcoming open houses. You can also advertise on the Internet and through social media. Before you put your listing up for sale, you want to take note of the current interest rates. Depending where the buyer secures financing, and their credit score, they may be able to take advantage of low interest rates at 4 percent for a 30-year fixed. But interest rates aren’t expected to stay low forever. If you’re hoping to catch the attention of numerous buyers for your home, you want to place your dwelling on the market sooner than later.
Secure Less Costly Housing
With passages of the Tax Cuts and Jobs Act, homeowners are going to notice policy changes related to their real estate taxes. Interest rates for mortgages are deductible through $750,00. When you’re paying property taxes, your deduction can no longer exceed $10,000. For those in states such as Illinois with some of the highest property taxes, this can be a major hit for homeowners who go to file in 2019. If you’ve been thinking about making a move to a less costly state, you may want to hurry and list your property before buyers have time to mull the disadvantages of the pricier markets.
Get Away with Less Costly Renovations
Certain renovations such as a kitchen remodel can add value to a home. But if you’re looking to profit on the sale of your dwelling now, you may want to think twice about investing too much money into your house. Instead, focus on decluttering your dwelling on the interior. Other inexpensive fixes can include sprucing up your home’s curb appeal. A fresh coat of paint to outdoor shutters, flower boxes, shrubs and exterior lighting can make your home look more inviting.
Increase in Home Prices
No matter where you live, home prices have enjoyed a nice boost recently. If you’re selling your home, this could put even more cash into your bank account at the close. To ensure that you price your home competitively, you want to consider the price of the current homes on the market in your area, and the amount that they’ve closed at.
Consumer Confidence at an All-Time High
The current stock market surges and low unemployment rates are bonuses for the economy. The new tax deduction standards could also mean consumers pay less taxes and will have more money in their pockets. When you combine many of these factors together, more and more buyers may be in search for the ideal dream home.
Millennials Prefer Buying Over Renting
Although some may have student debt to contend with, millennials are prepared to purchase property over renting. As a matter of fact, some housing experts predict that out of the many people buying a new home in 2018, over 40 percent of them could be millennials.
The recession delivered a shocking blow to the housing industry nearly a decade ago. But fortunately for today’s consumers, the crash is but a distant memory. As the market continues to bounce back with the greatest intensity and confidence builds, you may see the coming year as a great time to sell your home, hire movers and relocate.
About Author: Ronald Thaxton is a Content Contribution with photographersinlahore.com who helps businesses find their audience online through outreach, partnerships, branding and networking. He frequently writes about the latest advancements in digital marketing, digital photography & wedding photography.
Image: Home buyers are taking home keys from best_nj/Shutterstock