Got real estate and a new home on the brain but don’t know when to jump in? All your friends and family have their opinion, the news another and its all too confusing, right? Don’t let it be, just step back, look at the big picture and ask yourself some questions.
Home prices are at their most affordable in years and you can’t beat today’s rates (around 5% at this writing). Yet it seems that more buyers are sitting on the sidelines, waiting for a more drastic down-turn in the market.
Unfortunately, waiting for the market may not be the wisest strategy. Predicting or getting to the lowest part in a market is a difficult task and most times is spotted in the rear view mirror.
Waiting is not what most buyers need to do. Real estate is local. What constitutes the bottom for the country or a certain region is meaningless to those looking to buy homes in their own community.
Prices in many markets may not have hit their lowest, but others have stabilized and even inched up a bit. Waiting for the perfect time puts a buyer at risk of missing a fabulous opportunity.
Here are Five Good Reasons to Buy Now:
Prices in the neighborhood or area you are interested in have remained fairly stable. Either they are holding their own or the pace of the decline is slow.
You plan to stay in your home for more than five years. At this point you can probably ride out any downturn and come out ahead on your price.
Your rent rivals a mortgage payment. If you can afford to buy, it can give you one bonus that renting can’t — the mortgage interest tax deduction.
You have found the right house in the right area for you. You like the area and the neighborhood. It would be hard to find another house like the one you would like to purchase.
You have built equity in your home and are moving to a place where homes are cheaper. In your new market, your money will go further.
If you are looking to buy and need help or simply have questions feel free to call us at 612-282-7653 anytime.
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