Realtors ® are good at telling you to buy now! Today, is always a good time to buy a home.
I believe it is always a good time. However, in my 40 year career in real estate, I have seen good times come and go. The economy and the market is constantly changing.
There are times when the economy is roaring and NOW is one of those times! Don't miss out on the opportunity of a lifetime. Prices are going up because the economy is doing well. More and more millenials are finally saying "Let's buy a house!"
Now is a great time because interest rates are still low, and home prices are beginning to rise. This means you may be able to grow equity in your home quickly. I would advise my grandchildren not to wait but buy now.
If you have VA loan eligibility, it is even better. No down payment and in some cases, very little closing costs to you. Interest rates are averaging between 4.1 % and 5.2% for 15 and 30 year amortized loans. This will allow you to buy a more expensive home with a monthly payment you can afford.
If you've been considering buying instead of renting, now is a good time to get serious. Talk to a mortgage lender about the possibility of getting started. You may be surprised how easy it would be to own. Wouldn't it be nice to feel the security of owning your own place? To be able to paint the walls any color you want, or build your backyard patio like you've always dreamed?
If you're not sure you want to stay long term in the area where you are living, you can always sell later or use it as a rental. In the meantime, you own your own home and you are building equity instead of helping someone else build equity in their rental. This is my advice to every young person. Real estate is usually a good investment. Long term , yes. Good, yes!
Ricki McCallum CastNet Realty CastNet Press