Now’s the Perfect Time to Upgrade Your Home in Coastal Delaware and Maryland

If you’ve been thinking about selling your current home and moving into something bigger or more luxurious along the coast, you’re not alone. Many buyers today are motivated by the desire for more space or an upgraded property.

While market conditions may have had you waiting on this decision, now could be the ideal time to take action, even with potential challenges. Here’s why:

You’ve Likely Built Up Significant Equity

One of the major advantages for homeowners in today’s market is the equity built up over the years. Even with market fluctuations, home values have continued to rise, increasing your potential equity. According to housing experts, many homeowners are sitting on an average of $315,000 in equity, with gains of around $129,000 since the start of the pandemic.

This equity can be used toward the down payment on your next home, helping to make an upgrade more affordable than you might have thought. Curious about how much equity you’ve gained? Reach out to your local real estate expert for an equity assessment.

Mortgage Rates Are More Favorable

Another key reason to consider upgrading now is that mortgage rates have started to dip, increasing your buying power. Lower interest rates can make your monthly payments more manageable, and you might qualify for a higher price range than you expected. This could be your chance to get that coastal dream home you’ve been eyeing.

Bottom Line

If you’re ready to take the next step toward finding a larger, more luxurious home in Delaware or Maryland, your equity and improving mortgage rates put you in a great position to make it happen. Reach out to get expert guidance on how to make the most of this opportunity!