We’re on our way out of a global pandemic. California is finally reopening, and many other states have already resumed normal operations (with some safety precautions, of course). For many Southern California residents, 2021 might just be the right time to move—whether it’s down the street, to another city, or even across the country. If you’re already thinking about moving, are exploring your options, or just want to get insight on moving, we have some helpful information for you.
Our team of Southern California movers at Affordable Quality Moving and Storage is here to help with your local, long-distance, or international move. We provide packing and unpacking, transportation, and storage services to make your 2021 move as stress-free as possible.
Call (661) 622-2636 today to schedule a free estimate!
You Probably Have Equity in Your Home
The housing market in Southern California hit a record high last month, with the median home price hitting $655,000. This was a 20.2% year-over-year increase from 2020. April 2021 home sales also jumped 86.2% from the previous year’s sales. Houses are literally flying off the market, with multiple offers and bidding wars driving sale prices higher than their original listings. More than half of Los Angeles homes sold for higher than their listing prices, according to the Multiple Listing Service (MLS).
If you own a home, 2021 might be the perfect time to sell. If you list at the right price, you are likely to get multiple offers that drive the price up even further, not to mention the fact that you may already have equity due to overall price increases.
You Could Lower Your Mortgage Payment
You may be able to lower your mortgage payment by moving. Of course, your final payment will depend on the value of your new home and how much you’re able to put down, as well as current mortgage rates. Many Californians are choosing to move to less expensive cities and suburbs, and others are moving out of state where the cost of living is more affordable. This is now possible for many homebuyers because they are already working remotely. If you have equity in your current home, you may be able to enjoy a lower mortgage payment on a new home, whether by putting more down or moving to an area where you can get more for your money.
If you’re renting, 2021 may be the perfect time to buy your first home. Renting an apartment or home in this market can be expensive. First-time homebuyers can get away with making a lower down payment, and with rates so low, you might find that your mortgage payment is less than what you were paying in rent—plus you can reap the tax benefits of owning a home.
Mortgage Rates Are Still Low
Mortgage rates are still low, and this benefits the Southern California housing market in a few ways. It encourages people to buy because they will spend less on their monthly payments and over the term of their loans. It also boosts the market as a whole because more people are buying (and more are selling so they can purchase new homes). We may see a slight increase in mortgage rates in 2021, but they are expected to remain fairly steady as the year progresses.
You Could Get a Fresh Start
Moving signifies a fresh start, whether you’re moving down the street or to another state. You have an opportunity to reorganize your belongings, get rid of the things you don’t want, and set up a new space that’s more suited to your needs. While 2020 brought a lot of hardships for people from all walks of life, 2021 can bring opportunities instead.
Contact Our Southern California Movers
Of course, the decision to move is one you should never take lightly. Talk to your real estate agent, your family, and your loved ones, and review your financial situation and your goals before you decide to move. If you do choose to move in 2021, let Affordable Quality Moving and Storage handle everything for you! Our Southern California movers can take the hassle out of moving, particularly in the hot summer heat. We can get your belongings from point A to point B safely, so you can relax and enjoy your new home!
Contact us today for your free in-home estimate.