Buying or Selling Real Estate: Is It the Right Time for You?
Are you on the fence about buying? Are you concerned about overinflated prices, low inventory, and fierce competition? If you are reluctant to buy or just plain weary, it’s totally understandable. High demand for housing has made it hard for buyers in today’s market. Incredibly hard. But, isn’t it still worth jumping into the real estate market because of today’s historically low interest rates? Will you miss out if you don’t take the plunge now? Maybe. Maybe not.
What if you are a Seller? Isn’t this a great time to list your home? Prices are way up and you stand to make a killing, right? Doesn’t the market offer lots of opportunities for you to do well if you sell now? And, if you don’t sell now, will you live to regret it? Maybe. Maybe not.
Timing is Important
There are a lot of questions to ask yourself and your real estate professional if you are thinking about buying or selling real estate. You’ll need answers to all of your questions, but one thing is certain — timing is everything. But, who’s timing? Therein lies the most important question of all: “Is it the right time for you?”
Many factors enter into your decision to buy, sell, or simply stay. To make a wise decision — a decision that’s best for you — you’ll need data, wise counsel, and the help of a proven professional. You’ll need help navigating your whole decision-making process. Making the right decision for you and those you love involves gathering information, assessing options, weighing the risks and benefits, and identifying several possible paths of action. Ultimately, your goal is to decide whether it’s the right time for you. This may sound counterintuitive, but regardless of great interest rates (if you are a buyer), or escalating prices (if you are a seller), there is only one right time to buy or sell real estate and that’s when it’s the right time for you. I’m not saying that the market’s timing doesn’t matter because it does. A lot. But, your timing matters more. Much more.
Take a Pause if You Need To
If you are feeling a lot of pressure or are conflicted about a real estate decision, you may need to hit pause. Take a breather and go do something you enjoy. It’s important to step back in order to gain some clarity, because conflicting emotions, undue pressure, or fatigue will not help you make a good real estate decision or any other good decision for that matter.
Yes, timing is important, but it is also personal. So, decide the best timing for you based on the facts and your own personal situation. I’d like to leave you with one final question, compliments of Dr. Andy Stanley: “In light of your past experience, your current circumstances, and your future hopes and dreams, what is the wise thing for you to do?” It’s a great question and by answering it, you’ll come up with a wise answer!