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I had a great question come up the other day. A seller was wondering how to capitalize on the dollar value of his home sale. He thought it was great if he could sell his home for top dollar, but what was he to do when he went to buy a home later on? He would be fighting the same uphill battle with another seller, so his top-dollar sale wouldn’t mean a whole lot when he has to turn around and purchase a home for a high price.
What are we to do in this situation?
Well, I will challenge this statement and say that the affordability index has never been lower. Our affordability index has actually never been lower since the early 1970s when we initially started tracking affordability. When you compare houses today and and houses 20 years ago, you can buy more home and pay less in your monthly mortgage payment.
It’s also important to point out that mortgage interest rates have been historically low for some time, so this will help to push your dollar further when you’re turning around and buying a home. We’ve also seen a lot of people downsizing, and this will surely make your dollar go further.
Overall, it’s a phenomenal time to buy a home. Please contact me and I can put you in touch with a lender to jumpstart the process.