Is now even a good time to buy a home?

It’s always a good day to buy a great deal. Period.

Mortgage rates are climbing, effectively tempering demand during what is typically the hottest time of year for housing. Whether or not it’s a good time to buy a home can really depend on an individual’s situation at that time, including what their specific needs are.

Rents Keeps Going Up every year

Yes, it’s true that compared to a few months ago, when borrowing costs were lower and prices were maybe even a bit below where they are now, you won’t be getting as good a deal, but that is all relative.

Rents are skyrocketing right now. If you’re a renter and plan on signing a new lease, your monthly costs are likely to go up when you do so. Those rising costs can have a big impact on your financial goals, including any you’re making to save for a home purchase. Would you rather throw the money away for the rent, but not spend your money to own a house to build equity for yourself?

It’s always a good day to buy a great deal. Period.

Experts said that even with the market’s bumps, now is still a smart time to buy a home. If prices go up you gain equity. If prices go down you pay fewer taxes. We shouldn’t care too much about if assets lose value. We should care about rents we are losing. We have never seen the rents go down. Not even after 2008. Consider the benefits being a homeowner would help you think clearly and make good decisions.

If you’re financially ready, Go for it.

One of the key benefits of owning your home is that you’re able to lock in and stabilize your payments for the duration of your loan. You will not be able to do so by renting. You think you are paying higher interest rates, but that is just relative. Comparing to in the 80s, it’s still low. If you can still get qualified, don’t wait!! Go for it. When the interest rates go down in the future, you can always refinance. All you need to do now to make a good decision is trying to consider your housing expense in a long term. 

Never wait, Act now!

If you’re ready to become a homeowner, waiting any longer may not make financial sense. Instead, escape the cycle of rising rents and enjoy the benefits that come with homeownership today.

Join The Discussion

Compare listings