Written by Laura Wise
Why Buy Now? It is a buyers’ market! Are you ready to buy your first home?
Are you looking for a larger home? Or are you ready to down size? It is a huge decision that can be stressful and full of uncertainty. But if you’re ready, now is the time to move, before circumstances change and the market takes a turn that is less favorable to buyers.
Why is NOW a good time to buy a home? Here are two reasons you should consider:
Interest rates are still at all time lows. However, experts predict they won’t stay this way. If you can get in now before they begin to climb, you can keep your monthly payments low. For those who are new to home ownership, your mortgage payments may be less than rent. And for those who are considering moving to something bigger or smaller, I think you’ll be surprised at what your current equity will buy you.
There is a surplus of homes on the market. There are still some foreclosures in the area, and the sellers who need to sell have priced their homes competitively — although, just like with the interest rates, prices could start to rise at any time. I have already seen the prices on the rise in many neighborhoods.
Buying a new home is an exciting time, Now is a great time to get a great deal.