Is it a good time to sell your apartment and buy a larger one in today’s market?
Maybe you just got a big bonus at work, or had your first child. Maybe you recently got married. There are several reasons that justify moving to a larger apartment. It can be an overwhelming process for many, especially with young children and full-time working parents, like most New York families! Most importantly, is it the right time to make the move?
One thing you can be sure of is that today’s Buyer’s Market conditions could not be more ripe for making this upgrade. It’s time.
While the sale of your current unit might not attract top dollar, you will get such a great deal on your replacement property that you will be thanking yourself for having made the move. Deciding to sell is the first step to a far superior living space.
If you’re a growing family, take advantage of the extra space while investing in more equity. Or as an investor, roll over your capital gains through the 1031 Exchange program.
The Buyer’s Market requires new sales and pricing techniques alongside very skilled negotiation tactics. Qualified buyers are careful to get the absolute maximum for their dollar and the smallest nuances can make or break a deal.
The best way to use the strategy is to just try it. List your apartment and look around, see what available to buy. If you don’t like the offers you get, delist and you’re done. This is a win-win situation. Today’s weak market provides ripe conditions, by the time you sell your apartment the replacement properties will be at or below our expected price. In a strong market, by the time you sell your current unit, the replacement unit may be 10-20% more expensive, so you come out losing.
The time is now. We would be happy to hear your thoughts and guide you through any questions.