Buyers are constantly trying to time the market to purchase their home or investment property. They want the lowest prices, the lowest rates and for it to be a buyers market. With the shifting of the market this year along with the current increase of interest rates, people are left wondering if it is still a good time to buy real estate this year? The answer is yes, it is still a good time to buy – at least for the right buyers. In order to determine if buying a home is the right decision for you right now, ask yourself these important questions:
- Where are you at in life?
- Are you renting and ready to buy?
- Are you ready for the responsibility?
- Are you financially able to buy a home? (Do you have a downpayment, do you have savings, do you make a stable income and have stable employment?)
If your current position in life fits with homeownership, then it is time to start your search!
When buying a home, you must realize that it is not a matter of perfectly timing your purchase, it is about purchasing when the time is right for you specifically. The sooner you can get into the market, the better. As Will Rogers said, “Don’t wait to buy real estate. Buy real estate and wait.” Historically speaking real estate has always appreciated, which is why it is always best to spend time IN the market. If you’re considering buying a house this year or next, reach out to our team and we’ll set you up with a plan to help you determine if it is the right time for you to buy a home!
– Victoria Barnes