Moving-Up to a Luxury Lake Norman Home?
Does your house in Lake Norman no longer fit your needs? Are you 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.
Now’s the Time!
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.”
Calling Lake Norman Homeowners
Are you a home owner in Huntersville, Cornelius, Davidson, Denver, Mooresville, Terrell, Sherrills Ford and Troutman? Are you looking for waterfront homes? Please search here for waterfront homes for sale. Search here for Cornelius homes for sale at The Peninsula. Mooresville homes for sale at The Point and Davidson homes for sale at River Run. If you are looking for something around the Northwest of Lake Norman, Sherrills Ford homes for sale are at Northview Harbour. Furthermore, if you have any questions, give us a call at 704-975-2429 or 704-957-2232.