Why you Should and Shouldn’t Sell your Home in 2022

Why you Should and Shouldn’t Sell your Home in 2022? Let us list the reasons why, and why not!

US News and Reports offered that home prices would increase by another 2.9%, however, there are some big issues at play if you wait and they are, inflation and interest rates. What do you do? Hi I’m Kimmy Rolph and I’m a Main Line pa listing agent who is watching this market reach a fever pitch, with very little sign of stabilizing. Honestly, there reasons to sell and reasons not to. Here is the break down. 

If you’re on the fence about selling, you have a few choices: You can put your house up for sale soon to take advantage of the current demand, you can wait to see how interest rates and inflation play out as they relate to housing (though it could result in a missed opportunity), or you can opt to stay in your current home for the foreseeable future.

Here are my top three reasons you should sell your home in 2022,and the top three reasons you shouldn’t. 

Why Sell in 2022 number 1: Interest rates are expected to rise, but remain fairly low. Interest rates are hovering around 3%, making financing incredibly affordable. Even if you are having to pay more for a home, you sell higher and the financing is really low interest. 

Why Sell in 2022 number 2: You want to  take advantage of buyer demand. Inventory on The Main Line is incredibly constricted. Homes are going under contract in a matter of hours if not days and for really great terms. Do you want no contingencies? Looking for a cash offer? Quick close? Post closing occupancy agreement? Why not. All of these are common right now. 

Why Sell in 2022 number 3: You need to move and are sick of your home. It is too small!!! I hear that a lot and the people who are moving to The Main Line PA right now are admittedly looking for larger lots, space, and more flexible work life balance. 

Now we move to reasons not to sell. 

Why Wait to sell number 1: You just refinanced. If you just refinanced, it probably is not the best time to sell. Are there ways to take advantage of these rates and how much your home appreciated? Of course, but it may not be worth the hassle, if you still foresee living in your home for the next five years. 

Why Wait to sell number 2: You aren’t sure you can afford what is available. This is another valid concern, however, there are creative solutions as a seller, that I can show you. We can work with a contingency of your sale and get prequalified for financing on your next home, for example. You really never know what is out there until you start looking. Additionally, we are seeing sellers who are willing to undergo customizations on homes that are perfect, yet. The financing on these projects is also low, so you can take advantage of that. 

Why Wait to sell reason 3: You’re worried about finding your next home, well this is a very valid reason. Indeed the inventory is very very constricted on The Main Line. However, with rising inflation and interest rates expected to increase, sellers are coming to the market and those looking to downsize are really taking advantage of the market. 

So there you have reasons to sell and reasons to wait. It really depends on what you are looking for. There are new homes coming to the market, existing homes coming to the market, great rates, and if you are considering downsizing or buying new there truly could not be a better time. See my resources below that offer so much guidance on selling on The Main Line from the process and time it takes to our recommended vendors for helping organize a sale. Reach out anytime, let’s take this next step together! Kimmy Rolph sells The Main Line and Local Areas. 

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