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GREAT RATE, WRONG HOME?

Wednesday, October 9, 2024   /   by Ameil Gill

GREAT RATE, WRONG HOME?

GREAT RATE, WRONG HOME?


Have you ever stood in your home, looked around, and thought, “Should I move? Is now the right time to sell? Will I find a home that fits our lifestyle better?”


If the thought of a higher interest rate has made you hesitant about making a move, I get it. After all, it may seem as though holding onto your current home with a lower rate is the safer choice.


But here’s the thing: LIFE HAPPENS. Regardless of interest rates or home prices, if you feel like you’ve outgrown your current space or it’s just not quite fitting your needs anymore, it might be time to make a change.


Here are a few reasons why you might want to consider making a move, regardless of your current lower interest rate:


1. You have a lot of equity


Your value has appreciated, and so has your equity.


In fact, the average homeowner holds $299,000 in equity.


Leverage the increased equity from the sale of your current home, and purchase a home that fits your current needs and lifestyle.


2. There will never be a perfect time to move.


Timing the market perfectly is a myth, and the truth is, there is no “right” time to buy or sell a home.


Rather than obsessing over market timing and interest rates, shift your focus to your personal goals and circumstances and creating a better quality of life for you and your family.


3. There are ways to buy and sell at the same time


There are various ways to buy and sell simultaneously, some of which do not involve moving into a short-term rental!


Ask your agent and lender about the options available and which one would work best for you and your current circumstances.


If you’re still unsure about what to do or just want to chat about your options, message me. I’m always happy to help!

REMAX Realty One Inc. - The Gill Team
Ameil Gill
50 Burnhamthorpe Road West Sussex Centre Ste #102
Mississauga, ON L5B 3C2
416-884-1359

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