Is now the time to cash in on your equity and move up to a luxury home? If your house no longer fits your needs and you’re planning on buying a luxury home, now is indeed the best time to make this move. In today’s premium home market, buyers are in control. Inventory of luxury homes far exceeds the number of buyers wanting to purchase these properties. This means luxury homes are staying on the market longer, which eventually leads to price reductions. If you have a starter home or trade-up home to sell, you’ll find buyers competing—and oftentimes entering bidding wars—for the right to call your house their new home. Keep in mind that a 5% down payment for an $800,000 home is just $40,000.
If you’d like to get started shopping for luxury homes or you have any other real estate questions I can answer, don’t hesitate to reach out to me. I’d love to speak with you.