Moving-Up to a Luxury Home? Now’s the Time!

Moving-Up to a Luxury Home? Now’s the Time! | MyKCM

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.

The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.

The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:

“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”

Bottom Line

The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.

MailChimp Integration

We've made it easier than ever to email your Personalized Posts using MailChimp. You simply need to connect your MailChimp account with your KCM account. Once that's done, we'll be able to pull in your email lists from MailChimp and let you send out a personalized blog post, along with your profile, and links to your buyer & seller guide lead capture pages.

With MailChimp you get up to 2,000 subscribers and 12,000 emails a month for free! In order to connect the accounts you will need an existing MailChimp account, if you need to register for one you can do so here.


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