Welcome back to our
Homebuyer FAQ Series, where we’re answering real questions from real consumers about the homebuying journey.
In
Part 1, we covered the mortgage basics every buyer should know. In
Part 2, we shared real ways to save money on your mortgage.
Now, in
Part 3, we’re diving into what every buyer and seller wants to know:
what’s really going on in the market? Should you wait for rates to drop? Fix up your home before listing? Try to buy and sell at the same time? Let’s break it down so you can make your next move with confidence.
Do you expect mortgage rates to rise, fall, or stay steady?
Mortgage rates are influenced by inflation, the economy, and decisions made by the Federal Reserve. While no one can predict exactly where rates will go, most experts agree that focusing on
affordability (what payment fits your budget) is smarter than trying to time the market.
If rates drop later, you can always refinance. But waiting too long can mean missing out on the right home at the right price.
Is it worth fixing up or remodeling before selling?
It depends on your home and your market.
Small improvements like fresh paint, landscaping, or light kitchen and bath updates usually offer the best return. Big remodels, on the other hand, can be costly without guaranteeing a higher sale price.
Before starting any project, ask a local real estate agent what buyers in your area actually value. Sometimes, less is more.
What happens if I want to sell my house and buy another at the same time?
This is one of the trickiest parts of the process, and one of the most common questions we hear.
If your home hasn’t sold yet, you might include a
home sale contingency in your offer on the new house, or explore a
bridge loan to help with timing. If your current home sells first, you can use
lease-back agreements or short-term rentals to avoid gaps between closings.
The key is communication between your real estate agent and lender; they can help line up both transactions smoothly.
How should I think about “timing the market”?
The truth: there’s no perfect time to buy or sell, only the time that’s right for you.
Focus on your personal and financial readiness. The market will always shift, but if you’ve found the right home, the right loan, and a payment that fits your lifestyle, that’s great timing.
Whether rates rise or fall, the best move is the one that makes sense for your goals. If you’re unsure where to start, our team at Luminate can help you run the numbers, evaluate your options, and plan your next step with confidence.
Series Note
This post is part of our
October Homebuyer FAQ Series. Check back next week for Blog #4: Special Situations & Unique Mortgage Questions.
