7 Reasons You Should Buy a Home Now
The real estate market is on your side. Why should I buy a home now? If you’re considering your timing to purchase a home, consider these reasons.
Rents are rising at a faster pace than home prices, especially in central and coastal Florida. The holiday weekend is upon us, do you have to wonder if the landlord will approve of your party? You won’t be concerned as a homeowner.
2. Mortgage Rates
Mortgage Rates are still favorable. The rates have been declining for the past 4 weeks. Where will they be in a few weeks? They’ll go back up eventually, but take advantage of this lull to entertain the affordability.There's a good balance of inventory, prices and low mortgage rates. Click To Tweet
In most of Florida, it is still cheaper to buy than to rent. Every market has its fluctuations and we can help you with the affordability analysis.
4. Market Conditions
We’re nearing the end of low mortgage rates and moderate prices. There’s a good balance of inventory, prices and low mortgage rates.
Personal income is starting to rise again. Unemployment is low and job outlooks are positive.
6. Housing Demands
Housing demands still exceeds supply so if you wait it may be harder to find an ideal home at a price you can afford. The population is growing quickly in Florida, leading only to inevitable rent increases as rentals are harder to find. This will drive the home values up as well.
Millennials, the largest cohort in history, are reaching their peak home buying years, which could further tighten the supply of homes for sale. It comes down to basic supply and demand. Don’t miss out on your opportunity.
Should YOU Buy a Home Now?
It’s tough, so many of your friends and family want to play Monday morning quarterback on this one. It’s a large purchase and everyone will have an opinion. Maybe they bought or sold before. Does that make them an expert? Hear them out, but seek professional input.
What are the potential risks? What are the not-so-obvious benefits? You need the whole picture from professionals that do this every day, all day, not the part-timer who got their license “just because”. You need professional guidance to determine the best time for you.
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