March 31 2015

Why This Is the Perfect Time to Move Up

by racheal

Your Move Up Home

Interest rates are still low, around 3%, and this trend will not last much longer. The current rates make moving up more affordable than ever. In some markets, a home up for sale for $200,000 will cost you less for the mortgage than to rent a home half the size.

Home prices have been stalled for a year and Washington wants to build up the housing market back to the way it was before the bubble bust, hence the low interest rates. If you were looking for that golden opportunity to move upward, that opportunity is here and NOW. Here are some easy steps to make that move a reality: 

1. You are not the only one who is going to take advantage of the low interest rates. Right now there are more buyers than inventory, making it a buyer’s market. So if you need to sell your current home, sell it for what you can get. Qualified home buyers are looking for a home that is turnkey ready.
2. While being a seller in a buyer’s market may not be ideal, it’s great when you rotate roles and become the buyer. Whatever amount you qualify for, it will go a long way with the current interest rates. You can get a bigger house with the same, or just a little higher, monthly mortgage payment than you currently have.

3. When you sell your current home, you can use the equity you have made toward your down payment for your next home. This combined with your low interest rate will guarantee a very low mortgage.

So get qualified and put your home on the market. Before you know it, you will be in your dream home without having to break the bank!

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