Here are just 5 reasons to buy a home now in Arizona rather than waiting…if you decide you are ready to buy now, then please don’t hesitate to reach out and allow me to walk you through the process of buying a home from start to finish. Call Karen Berg at 602.919.2375 to discuss your options and to begin your home search today!
1. Prices Are Likely to Go Up
Home prices are likely to go up even more over the next year, and the Home Price Expectation Survey that recently polled 100+ economists, investment strategists, and housing market analysts projects home values to appreciate over the next five years somewhere between 15.1% up to 32.8%. If prices continue to rise, then it doesn’t make sense to wait any longer to buy a home!
2. Interest Rates are Expected to Rise
If mortgage interest rates are expected to rise, then it will essentially cost you more each month in interest if you wait to buy. Your money will not stretch as far towards purchasing a home if you wait because not only are home prices expected to rise, but combined with rising interest rates, the cost to own will be higher overall.
3. Invest in Your Future
If you are renting a home, then you are probably paying your landlord’s mortgage, but if you choose to buy a home, then the money spent each month will be an investment in your future wealth. A recent publication released by the Joint Center for Housing Studies at Harvard University says: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” So, why not invest in your future rather than in someone else’s?
4. What’s Stopping You?
If you have a stable job and aren’t expecting any changes to your family status, then what’s stopping you from buying a home now? It’s a great idea to make a list of pros and cons for buying a home now versus continuing to rent. If down payment is an issue, then there are programs available to suit a variety of home buyers, and if you’d like to discuss your situation further, then please don’t hesitate to reach out. Now is a great time to buy if your family is ready to own!
5. Put Down Some Roots
We live in a day and age where people tend to move around a lot due to a variety of reasons which may include job transfers, needing to downsize or upsize based on changes in family status, and a whole slew of other reasons. One of the greatest reasons to buy a home now is to put down some roots and start building your memories in one place. Get to know your city, community and neighbors and truly commit to putting down some roots!
As a full-time, experienced Realtor living and working in the areas of Queen Creek and San Tan Valley Arizona, I am always available to answer your real estate related questions. If you are interested in buying or selling a home in Queen Creek or San Tan Valley Arizona, or if you would simply like a FREE market analysis of your property, then please do not hesitate to contact Karen Berg at 602.919.2375.
Of course I’d love to help you any time you need to buy or sell, but I’m also here for you any time you have a question about the market. You can also feel free to call if you’re simply curious about the listed or sold price of a house down the street. I’m looking forward to hearing from you soon!
Queen Creek Realtor
21321 E Ocotillo Rd C108
Queen Creek, AZ 85142