When property is booming, there’s usually a lot of people trying to buy a limited supply of real estate.
Buyers have to pay extra, which can undo the savings made from current low interest rates.
This is all great if you want to sell, but not if you then need to buy back into the same market.
Property prices move in cycles. After every growth phase comes a correction, where prices fall slightly, before recovering and growing again.
If you want to move homes in a hot market, consider selling and then renting for a while until the market cools down.
Renting might mean living somewhere you couldn’t afford to buy. And when repairs are needed, your landlord foots the bill. Renting for a couple of years and banking the money you made from selling could be like taking a holiday from the stress of a mortgage.