When toying with the idea of buying a home, we often get asked: “Is this a good time to buy a house?” And truthfully, the only person who can answer that question is you. However, we will give you reasons why this might be the right time to make a move!
Reason #1: Interest Rates
As of September 2020, the interest rates are so insanely low. With this in play, you have more buying power than you ever did before. Previously you may have been approved for $400k, and now with an amazing interest rate – you can likely afford more than that!
If this is an opportunity to bump up your buying power (especially in price ranges that are ultra-competitive), this may be the perfect time to buy.
Reason #2: Life changes
Whether you now have more kids, need more yard space for pets, or downsizing because the house is too large – any of these reasons are enough for you to start packing.
We believe when you have major life changes that lead to you needing to reevaluate your living situation, then it’s probably a good time to buy a new home.
Reason #3: Working from home
Since COVID-19 came and affected us all, many of us will be working for home for the foreseeable future.
If you’ve been cooped up in a tiny one-bedroom apartment, with no differentiating space between home and work life – then it might be a good time to buy. We can find you a small home with space for your nine to five and still have your personal life separate.
Reason #4: Air BnB homes being sold
Each week we are seeing more Air BnB homes being put on the market because they can’t get these places rented right now.
When they start flooding the market, it could be the perfect opportunity for you to buy! It’s already begun, keep your eyes peeled.
Editor’s Note: We have seen some former AirBnB’s hit the market, but not as many as you would think.
Reason #5: You’re tired of renting
If you are just tired of being a renter and always worried about your landlord selling the place from underneath you (it happens a lot) – then stop stressing and make it your time to purchase a home.
We understand that most people ask if it’s a good time to buy because they want to know what the market is going to do long term. Until I become a psychic, none of us will ever truly know. However, we are watching the trends and can give our most educated guess.
Is it a good time to buy a house? It is if you’re ready.
Let’s start your home search. Text us now!