A few highlights:
- Come springtime, your house is bound to be in need of some TLC.
- Even if you don’t plan to sell your house this spring, staying current with routine maintenance can help keep your home functioning well throughout the year.
- Your realtor may have some suggestions that can get your home ready to list, and they’re also likely to be a helpful resource for finding trustworthy local contractors.
Selling in the spring makes sense for some — but not for everybody. Click here to find out how refinancing to lower your monthly mortgage payment can be a beautiful thing.
What to do when your starter home isn’t your forever place
It can be tough to admit that your current home may not meet your needs over the next few months, let alone decades. The good news is, this is perfectly okay. Many homeowners share your feelings.
CoreLogic’s 2020 Home Price Insights report indicated that, year-over-year, home prices have appreciated 4.5 percent. Likewise, National Association of Realtors’ (NAR) numbers from the same time frame showed that housing inventory declined 10.2 percent from just the year before.
These two stats tell us something: A decrease in inventory coupled with an increase in demand continues to drive up housing prices.
For home sellers, this is welcome news. It’s probable that your home equity has risen along with this price increase. The pool of springtime homebuyers is also bouncing back.
Ready for a home upgrade? Spring’s a great time to make your move
Like you, many homeowners are hoping for a better location, a new school district, a friendlier neighborhood, a shorter commute, and more space. The fact that fewer sellers are listing right now, while in quarantine, makes this spring unique. You may have higher odds of selling at a profit. Take the first step and prequalify.
For educational purposes only. Please contact your qualified professional for specific guidance.
Sources are deemed reliable but not guaranteed.
While refinancing could make a significant difference in the amount you pay each month, there are other costs you should consider. Plus, your finance charges may be higher over the life of the loan. Your licensed Cornerstone Loan Officer can discuss the benefits of a refinance transaction, along with all the costs involved, so you can make an informed decision.