It’s not always a great time to buy for everyone depending on their situation. Before you make the decision to buy for yourself, it’s a good idea to speak with an agent and/or a lender to get an idea about what you can afford and why you want to buy.
However, with the market shifting, a lot of people are capable of buying, but are uncertain about whether now is the right time or if they should continue to wait. Here are five reason why it’s a great time to buy for many buyers right now:
1. We have a lot more new inventory. In the last six years, home prices have been going up because of our low inventory. Buyers have been looking at properties and making offers, but are continually getting outbid. After six long years, we are seeing more homes hit the market and buyers have plenty of options.
2. Rates are still historically low. If you’re a younger buyer who isn’t used to seeing high interest rates, you probably think our current rates are pretty high. However, if you take a look back a few decades and see what we were dealing with at that time, a 5% interest rate is a steal.
3. You can get on with your life. If you’ve always thought about buying but are stuck in a rental property situation, you owe it to yourself to figure it out. Talk to a lender or a Realtor to see if you can qualify. It’s always free to talk.
4. You can create more certainty for yourself. There is a lot more certainty involved with owning a home. When you’re renting a property, you’re at the mercy of the landlord. When you own your own home, you make all the decisions.
5. Pride of ownership. My dad once told me, “When you own a home, life just changes. It becomes better.” It’s hard to explain, but it’s certainly true. It’s an indescribable feeling.
If you have any questions for me or you’re thinking about buying any time soon, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.