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A question that comes across many homeowners’ minds these days is “Is this a good time to buy or should I sit tight and wait the market out?” and the answer is a loud and clear “YES! Buy now.” The reasons are out there and no matter what the experts in some markets may be reporting, the truth is that if you can afford it – you ought to go for it. If you are qualified to get a loan at the great rates that are available these days and understand the value of investing now, reaping benefits later – now is better than ever.
Yes, we have all been talking about the low interest rates, so it is no secret that you can get interest rates that are nearly as much as a 30-year low. When you couple that with the fact that as Americans buying in the American real estate market (unlike other places where loan terms are much shorter) have the benefit of locking in the rate for a thirty-year term, it makes even better sense to buy now. When the market bounces back, and it will, your home will be worth more and the low, low rate you locked in will not be going anywhere, which means your return on investment is even greater. Veteran real estate investors are cashing in on this amazing opportunity these days, with many homeowners who can afford it, buying secondary and vacation homes that they then put on rent.
Lots of Room to Breathe
Obviously it is largely a buyers’ market these days, especially when you consider all the opportunities out there and how easy it is to get into a home that, just 7 or 8 years ago would have cost the same price you are able to lock in today. Since the inventory is higher, there are a greater number of distress sales by owners who are opting for short sales or banks who have foreclosed properties. What this means for you, as a buyer, is that you have plenty of choices out there. Not only that, but when you do find a home that is appealing and within your budget, chances are the seller will be more than willing to accommodate your offer and even offer extras like to sweeten the deal. These days homeowners who are desperate to sell have been known to throw in things like Home Builder’s Association fees, home inspection costs and even paying for taxes for that first year.
The Powers That Be Are On Your Side
When you factor in the interest rates available these days, the number of distressed homes that are on the market (no matter how unfortunate it may be for some, those homes do need to sell after all) and the extras that are out there, that is enough to convince anyone even remotely considering becoming a new homeowner. But there are even more reasons to take the plunge and move out of your existing home or rental into a your own, bigger and better abode. Even though the first-time homebuyer tax credit has expired there are still incentives to buy – and a great resource to find out what is out there is here.
What You Want Is Out There Waiting
Since it IS a buyers’ market these days, there is a plethora of choices out there too. You will find more home, for less money and chances are with more of the amenities and features that you are looking for as well. Depending on which area of the country you live in and further, how small or large the county you are looking to buy a home in is, you will come across a limited number of homes that fit the bill exactly in terms of your price range. The good news is that those homes will likely be there for you as a choice, regardless of whether the prices go up or down in the market.
It’s a phenomenal time to buy real estate in today’s market. Even though it is still a good time for sellers in the sense that there ARE people out there looking to buy, it is a FAR better time to buy a property these days – for a number of reasons.
