What is smarter: selling your house now or waiting until 2023?

The housing market is in full swing. The buying frenzy is decreasing, mortgage interest rates are rising. If you have plans to move, you are faced with a dilemma: do you quickly put your home up for sale and benefit from the higher sales prices? Or is it smarter to wait so that you benefit from more supply and room for negotiation?

The housing market is changing: selling your house is becoming more difficult

The housing market has been a madhouse in recent months. Overbidding was the norm, the prices were sky-high and there were 23 of us who had to queue for a viewing.

That image is changing. High energy prices and rising mortgage interest rates mean buyers can borrow less for a new home. The result: houses are for sale a little longer, fewer viewings are requested and offers are closer to the asking price. It is no longer self-evident to sell your house within a week with significant excess value.

However, you are still in a good position if you want to sell your house. The housing shortage will continue for the time being, especially now that many new construction projects have been halted. And although mortgage interest rates are rising, they are still relatively low.

Sustainability is important to sell your house

Now that home seekers have more choice on the housing market, you as a buyer will have to make more of an effort to market your house properly.

An important aspect is sustainability. The energy market is unstable and rates are sky high. A home with low energy consumption is therefore attractive. Is your house well insulated, do you have HR++ glass, solar panels and a heat pump? Then you can expect more bids than if there are hardly any energy-saving measures in the home.

Do you have a home with high energy consumption and do you have to sell? Then consider investing in sustainability measures yourself. An advisor can tell you which investments you can recoup when selling.

So: sell your house or wait a while?

The expectation is that the housing market will cool down somewhat. From 2023, the maximum mortgage will be reduced and mortgage interest rates will probably rise slightly. Home seekers can therefore borrow less and must also take into account less equity from the sale of their own home.

What is the smartest choice for you depends on your situation.

Do you have significant equity and do you want to buy another house? Then you could wait to sell. You will then benefit from the lower asking prices and still get sufficient equity out of your own home with a lower offer.

Do you want to rent next? Then selling quickly is smart, because there is a real chance that house prices will fall further.

Are you looking for a handyman house yourself? Even then, selling now is smart. Job houses are less popular due to the high prices charged by contractors and construction companies. If you are a good do-it-yourselfer, you can benefit from this.

Are you moving to a new-build home? Then you take a gamble by waiting, because your home may be on the market for longer than you expected and the sales price may be lower. In the meantime, you also have the risk of rising construction prices for the new construction project. Of course, you would prefer to move all at once, but selling now will give you certainty.

Honest advice from ECHT Makelaars in Alkmaar

Are you not feeling well yourself? Then make an appointment with our office for a free valuation. We assess the possibilities and sales prospects of your house, so that you know where you stand.