Hargeisa House for Sale
According to housing market experts, in 2022 Hargeisa House for sale prices will increase as demand remains high. There will likely be a housing shortage for the foreseeable future in spite of many eager buyers and few properties on the market. In many parts of Somaliland, there is a low supply of homes, which makes it difficult for buyers to move. Increasing home prices are a result of this factor. Thus, homeowners who decide to sell now benefit from a seller’s market.
If you’re on the fence about selling, you’ve got a few options: Put your house on the market right away to take advantage of current demand, wait to see how interest rates and inflation play out as it relates to housing (though it could result in a missed opportunity), or stay put for the foreseeable future and choose to stay put.
Currently, there is a shortage of supply on the market. The construction industry is still constrained by rising land and material costs, as well as a shortage of qualified workers. There is a lack of action from sellers as well. The number of new listings in January decreased by 9% from last year. There was a 28% decline in total inventory.
Rent House in Hargeisa vs. Buy House in Hargeisa?
First, ask yourself a question that will guide your decision making when looking for a new place to live. Is it better to rent or buy in Hargeisa? The idea of buying may appeal to you because you’ll be able to stop paying escalating rents. The cost of routine home maintenance and repairs can quickly drain a household’s finances.
Your specific circumstances will determine whether renting or buying is better for you.
If you’re considering buying a house, consider these questions:
- Are you planning to stay there for a long time? You may be better off renting if you plan to relocate in just a couple of years.
- Can you afford a home? You may be better off renting while you save a bit more if you cannot afford a home big enough for your family in the near future.
- How are things going? It’s not worth tying yourself to a home you don’t like if you can’t find one you like.
There is also the matter of record-high prices and low inventory in the current housing market, making it one of the most competitive in decades.
For that reason, buyers should be prepared to make multiple offers and maintain the expectation that their offer will be approved even if they pay more than the listing price.