To Sell Or Not To Sell, That Is The Question…
Here is my advice:
If you NEED to move but are not sure when. The answer is yesterday, then today, then tomorrow in that order. Not the day after… I think every day that goes by will be worse than the previous day. Carpe Diem!
If you have an investment property and you don’t want to keep it for more than 5 years, sell it immediately. See above
If you have a property covered under a lease, incentivize your tenant to move. Give them cash, detail their cars, pay some of their student loan debt etc. Trying to save 5k and potentially losing 10% of your home’s value waiting until next year could cost you tens of thousands.
If you want to move but don’t have to move, you are likely not moving anyway because the payments on houses have doubled. Only people who NEED to move will jump in.
If you want/need to BUY and are thinking about waiting. DON’T WAIT! The Fed said they will raise rates two more times in 2022 and again next year.
If you are looking to purchase an investment property, wait. There will be deals, now is not the time to jump. Hang on
If you own your home outright in cash and want to move. I would sell it and rent where you want to live for at least the winter and see how things go.
You can write the lease in a way that allows you the option to break it and that way you can look for deals. Rent and wait for the perfect house that will likely cost less than it does today.
Bottom line_______ Tomorrow will NOT be better than today for anyone