Are you on the fence about selling your home? You’re not alone. With interest rates at an all-time low, some homeowners are hesitant to let go of their current mortgage. But what if we told you that interest rates aren’t the only factor driving people to sell their homes?
Recent data from Keeping Current Matters shows that as of April, 51% of homeowners have an interest rate below 4%. While low rates may be a perk, they aren’t enough to keep everyone in their current homes. So, what’s motivating homeowners to sell?
It could be a desire for different features and amenities, a change in needs, the need for a home office, a desire to be closer to loved ones, or the desire for a smaller, low-maintenance home. And with more and more people working remotely, location is becoming less of a factor in the decision to relocate.
If you’re thinking about selling your home, it’s important to weigh the pros and cons of giving up a low interest rate against the reasons why you want to move. And don’t be afraid to reach out to a real estate professional for guidance. They can help you understand the current market and determine if your home is priced correctly.
At the end of the day, whether or not to sell your home is a personal decision. But by considering all the factors at play and consulting with a professional, you can make a choice that you feel good about.