Dreaming Of A Luxury Home Now Is The Time

Dated: 03/19/2018

Views: 84


Dreaming of 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! Recently, the Institute for Luxury Home Marketing released its Luxury Market Report 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 the number of people searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer or can be found at a discount.

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 their house their new home.

The sale of your starter or trade-up house will help you come 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.

A recent Bloomberg article gave some insight into what many millennials are choosing to do:

“A new generation of affluent homebuyers powered by a surge in inherited wealth is driving the luxury-home market, demanding larger spaces and fancier finishes, according to a report heralding ‘the rise of the new aristocracy.’”

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.

Blog author image

Brian Woodhead -Skyline Team Leader

Realtor Designation You deserve a Realtor with the Knowledge from these designations. Realtor’s that take the time to earn these designations are the industry leaders and top producers. We care a....

Latest Blog Posts

FirstTime Home Buyers Continue To Put Down Less Than 6

According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017.Many

Read More

Homes More Affordable Today Than 1985 2000

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.However, it is not just the price of

Read More

Why Should You Use A Professional To Sell Your Home

When homeowners decide to sell their houses, they obviously want to get the best possible price for their home with the least amount of hassles along the way. However, for the vast

Read More

5 Reasons Millennials Choose To Buy A Home

Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space,

Read More