With lots of news about hot real estate markets and rising home prices, many Birmingham homeowners are wondering whether now is the right time to sell their home. After all, like much of the country, the area has seen above-average growth and increased demand for homes over the last year.
That said, selling your home is a complicated process and a major decision. There are lots of factors to consider. As you weigh various factors, here are three reasons why now might be a good time for you to sell your house.
There’s Plenty of Demand
The pandemic has changed home buying and selling practices. Over the last two years, many people have moved, have deferred buying a home, or have changed their expectations of what they want in a home. As a result, 2021 saw a rise in demand for homes, with limited inventory. As we go into 2022, all factors indicate that the demand will remain high and that there will not be enough inventory to keep up with demand.
For sellers, this is good news. There are plenty of buyers out there right now, especially for entry-level homes. If you’re contemplating selling, now could be a good time to take advantage of the current seller’s market.
Interest Rates Are Low
That said, if you’re selling and need to buy another home, this increased demand can leave you torn about what to do, as you’ll have to purchase a home in a seller’s market. However, keep in mind that interest rates are at historic lows. While they’re rising and expected to continue to rise over the next year, they remain low by historic standards.
This means now is a good time to lock in a low interest rate, something that can help minimize the impacts of buying in a seller’s market.
Also, consider the location where you’re buying. Birmingham, like many sunbelt cities, is seeing especially high growth. If you’re looking to purchase in a less popular area, now might be an especially ideal time to sell – you can take advantage of a strong local market, lock in a low interest rate, and purchase a home in an area with less demand.
You’re Ready to Move
A final factor to consider, although one that many homeowners overlook, is your readiness to move. If you’re ready or want to move, it might make sense to act sooner than later. Some homeowners that have lost a job, are looking at a new job opportunity, or are concerned about making mortgage payments continue to live in their current home out of concerns about the selling process. However, if you need to move for a job or have had a financial change, it makes sense to go ahead and sell your home. This can help you avoid financial struggles and give you a chance to start fresh.
This option is particularly appealing in a hot market when you have more opportunities to sell your home quickly and competitively.
Sell Your Home Quickly with Home Buyers Birmingham
The reality is that even when all factors indicate that now is a good time to sell, many homeowners are hesitant to do so. The selling process is notoriously long, stressful, and expensive. Homeowners are forced to put lots of time and money into getting their home ready for the market. Next, they have to keep their home in pristine condition and ready to show at a moment’s notice as they wait for offers. Finally, they have to negotiate inspections and make repairs to ensure that the deal closes.
Even when all these steps are completed, the closing process can be slow and unpredictable. For homeowners unsure about their employment or financial situation, this process can be overwhelming and can result in them staying in their home too long and missing other good opportunities.
At Home Buyers Birmingham, we offer local homeowners an easier way to sell their home when they’re ready. We buy homes throughout the Birmingham area as-is, no matter the condition. Additionally, we pay cash and make an offer within 24 hours of seeing the property. Finally, we close on your schedule, on the date of your choice. This makes it easy to coordinate the sale of your property around a new home or a new job. Plus, it takes the waiting and worrying out of the process.
Contact Us Today for a Cash Offer
If you’re considering selling your Birmingham home, contact our team today via phone (205) 687-0604 or online form. You’re under no obligation to work with us, but if you decide to, we’ll get you a cash offer within 24 hours of seeing your home. We offer an easier way to sell your home. This means that you don’t have to spend any more time wondering when the perfect time to sell is!
Home Buyers Birmingham
1821 11th Avenue South Suite #55331
Birmingham, Alabama 35205