Which Is the Better Move: Refinancing or Selling?

Given today’s low rates, should you refinance or sell? Let’s discuss.

Interest rates have hit record lows, which has many homeowners wondering whether they should sell their home outright or refinance it, instead. 

Truth be told, there’s no one-size-fits-all answer, and either option will allow you to cash in on your hard-earned equity. Those more interested in selling their current home and buying a new one will be happy to know that current low rates translate to greater purchasing power, while those with their sights set on refinancing will rejoice in the fact that lower rates mean lower monthly interest payments.

There’s no one-size-fits-all answer as to whether you should sell or refinance right now, but either option will allow you to cash in on your hard-earned equity.

However, refinancing does carry certain fees. So if you plan on buying another property within the next year (or even the next six months), it makes more sense to make that move now rather than refinancing your current home. Conversely, those who are content to remain in their current property for the next few years are likely to see greater benefits from refinancing, rather than plunging into an unplanned move.

Whatever your circumstances may be, we’d be happy to discuss your options with you. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.