Struggling with Giving Up Your Low Interest Rate? Consider This

Move up buyers have historically been a large part of home buyers. Who are move up buyers?

They are homeowners transitioning from their starter home to their forever home, maybe a smaller condo to a large property with the backyard and extra bedrooms. These move up buyers transition into a home that is better suited to their current needs.

For some would-be move up buyers, they are struggling with the mental block of giving up their lower mortgage rate. Why sell and lose your 3.75% mortgage interest rate to buy a home at a 6% mortgage interest rate?

Here is the secret of buyers that successfully sold their first home and purchased a move-up property have learned:you live in your home, not your interest rate.

Your home is an investment. Do you want your money invested in a smaller property that has a smaller margin of growth? Or do you want your money reinvested into a larger property that has more potential for property appreciation?

Especially for homeowners living in condos and HOAs, you might be increasing your mortgage percentage rate, but if your replacement property is now a single family residence, you won’t have association monthly fees to pay!

Finances first: if you are going to sell your home, when I meet with you I will show you a possibility of sale prices and can provide a Seller Net Sheet to show you how much your Seller Proceeds would be. Those seller proceeds can be the downpayment on your move-up property.

So ask yourself: on a scale of 1-10, how motivated are you to sell your house and move?

What is holding you back?
What is motivating you?

Let’s talk about the process of listing your home and I can share how I can make your life easier. 

—Melissa