If you’ve studied the real estate market at all or even opened up a recent newspaper, you’re probably aware of the massive housing shortage going on in the US these days. This is a great problem to have if you’re in the market to sell your home, but you might be wondering how you’ll find the next one when the market is so scarce.

You’re not alone! Many people in the same predicament are looking to upgrade to a bigger, nicer home just like you, but they’re afraid to let go of the one they have in case it never happens. What’s a house-seeker to do? In times like these, it’s important that you think outside the box and come up with a solution that meets your needs.

Why You Should Sell Now

Sure, it’s tempting to wait. After all, what if you can’t find what you’re after. That logic would make sense except for the fact that the market is in favor of the seller…

For now.

The thing with the housing market is that it fluctuates just like any other market. And it’s a wide swing. When the housing market takes a dip, it is usually a large one, meaning it will be so far in favor of the buyer that you’ll be begging someone to take your house off your hands.

Right now, you have the advantage and can likely get top dollar for your home.

Create an Escape Plan

You don’t want to rush into picking your next home if you are looking to upgrade, but what you can do is come up with an alternative plan. For example, some people may choose to live in their RV’s for a few months while house-hunting, while others choose to stay with family. Another option could be to purchase a small inexpensive home to stay in until you find what you’re looking for and rent it out for extra income when you do make your next purchase. Or consider renting a small apartment while you look. The point is you don’t have to be locked into your current home just because you’re afraid you can’t find another one. Sell while the market is high and give yourself time to look.

Try Surrounding Communities

Try not to discount surrounding areas or other neighborhoods just because you’ve always lived in the one you are in now. If you open up your options, you are likely to find more to choose from. And who knows – you might be pleasantly surprised by what another area has to offer!

Conclusion

At a time like this, when the market is on your side, you should at least talk to a real estate agent or appraiser to see what your home is valued at. You may find the opportunity to sell too good to pass up!