The inventory of homes for sale
in the luxury market
far exceeds those searching to purchase these properties in many areas of the country. This means that homes
are often staying on the market
longer, or can be found at a discount.
Those who have a starter or trade-up home
to sell will find buyers
competing, and often entering bidding wars, to be able to call your house
their new home.
The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury #home. Even a 5% down payment on a million-dollar home
In a recent Washington post article
, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:
“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”
The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs, and are looking to step into a luxury home
… Now’s the time to list your house for sale and make your dreams come true.
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