Buying or Selling a Home in 2020: The Trends You Need to Know

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In 2019, home prices began to increase and will continue to do so in 2020. For sellers, that means that a higher profit will be made. If you are thinking about buying a home, pay close attention to your budget and purchase a house that is affordable and fits your budget! Keep saving and weigh-out your wants versus your needs.

With interest rates falling, sellers may find buyers that are motivated to purchase sooner than later. Buyers should consider a mortgage with a fixed interest rate for the duration of the loan. A fifteen-year fixed mortgage rate is recommended because of the lower interest rate and less interest being paid off over time.

Millennials are the largest group of home buyers. If you are a seller, it’ll be time to upgrade your online marketing resources – You REALTOR® can help you with that. Highlight the perks and popular features of your home. The size of your property is not everything to this demographic; it’s the unique features that make a home stand out from the rest.

Buyers should determine what is ideal in a dream home. Also, enlist a REALTOR® to help navigate through this unfamiliar territory. Finally, as a seller or buyer, if you can’t find the perfect solution, put your mind at ease because home equity is unlikely to decrease in 2020.

Whether you’re selling or buying, you can take advantage of the current trends by partnering with a professional real estate agent. Solid advice from an expert will help you make the best decision about buying or selling your home!