Can you guess what I am going to say?
Buy the house anyways (HERE’S WHY)⤵️
You can still reap massive financial benefits from owning a home, even with rising home prices.
Take my buyers recent home buying experience.
They had been in their home for several years, but their family had outgrown it.
They started looking for a bigger home in their ideal neighbourhood and casually searched for over a year.
They noticed homes were going quickly and honestly had sticker shock when it came to prices.
Sound familiar?
They debated whether or not they should move up and even considered doing a large scale addition on their current home to get it to work for them.
Ultimately they made the decision to buy another home that checked all of their boxes despite feeling like they were “buying high”.
They knew their home wasn’t working for them and they understood that with home prices continuing to rise they would benefit from the equity gained in their new home and were able to use the equity they already had in their current home to help offset the cost of moving up.
Their monthly payment increased (still within their budget), but they were ok with that knowing that they would finally be in a home that would work for their family.
They would’ve loved to sell high and buy low, but realized they couldn’t have their cake and eat it too and that timing the market just wasn’t possible.
If you’re in a similar position, you aren’t alone.
If you’re weighing your options and want to get an idea of what it would take for you to buy the home you want in today’s market and what you could sell your current house for, email me so we can discuss your specific situation.
If upgrading your home is right for you, great, but if not the right time that’s ok too…I’m here to help either way!