3 Reasons Why Waiting To Buy a Home Might Cost You

By Richard Warner

I have been an investor and landlord for 5 years. When I got my official real estate license, I started as a First Time Homebuyer Specialist and have since received specialization certifications in Luxury Homes, Probate, and Divorce.

Taking a step towards homeownership is a big decision and one of the most important moves that a person can make in their life. That is why homebuyers and sellers usually try to wait and figure out the best time to start the homebuying process. Before making a life-changing decision, you should always remember the word HALT and make sure that you are not hungry, angry, lonely, or tired when faced with choices that will matter five years from now.

The decision to buy a home is significant, and while the market may seem unpredictable, now might be the ideal time to buy. Here are three reasons why:

1. Home values consistently rise. One of the most compelling arguments in favor of buying a new home is the trend of home values consistently rising over time. Real estate is proven to be a solid long-term investment, with property values generally appreciating. Entering the market sooner places you in a position to reap the benefits of future appreciation.

2. Stable interest rates. Interest rates are a key factor in influencing the affordability of homeownership. Currently, we find ourselves in an interest rate freeze, and there’s no way to know for sure until when. However, the general consensus among experts is that interest rates will probably stay within range. So seize the opportunity for lower rates now. It’s better to buy now than wait for interest rates to come down because you will have a lot of competition by then.

3. Getting started is key. A lot of people wait to get pre-approved, waiting for the market shift that favors them. But a better strategy is to get started now so you’re ready when the right home comes along. The first step that you should take is to talk to a trusted Realtor and ask them questions about monthly payments, credit score requirements, how much savings you need, and many more.

If you’re looking for a trustworthy Realtor, I’m here to assist you. Call, text, or send me an email anytime.