Should First-Time Home Buyers Put Their Home Buying Plans On Hold Now?

By
Real Estate Agent with Coldwell Banker Realty
https://activerain.com/droplet/5nnR

 

Are You A First-Time Home Buyer? Should You Put Your Home Buying Plans On Hold Right Now Because Of COVID-19?

 

The answer to this question of of whether you should put your home buying plans on hold because of COVID-19 is a resounding NO! The infographic below outlines the top three reasons to shop for your first home now:

  1. Interest rates are at or near historic lows... why not take advantage of them to lock in your housing costs for years to come? Or take advantage of buying "more" home than you could afford with higher interest rates.

  2. There are assistance programs available for first-time home buyers. They have not stopped because of COVID-19.

  3. You may have more time right now to shop for a home, both virtually and in person. You can start shopping without feeling undue pressure while you do your research.

 

5 More Reasons Not To Put Your Home Buying Plans On Hold Because Of COVID-19

  1. Inventory of homes continues to decrease in the Charlotte region, which is resulting in higher home prices. Just as you might want to lock in the low interest rates of today, you might want to purchase a home before prices rise even further. As prices increase they negate your savings from low interest rates.

  2. Rent prices show no signs of abating. Why not start paying your own mortgage instead of your landlord's mortgage... you might just be paying a mortgage that's lower than your current rent payment.

  3. There's a lot of pent-up demand for homes in many areas, including the Charlotte region. Waiting might well put you into competition with many more home buyers... again increasing your cost to buy a home.

  4. If your concerns are about searching for a home during the pandemic, if you're not immuno-compromised it's possible to search for a home and stay safe. The real estate  industry has rapidly adapted, introducing numerous ways to minimize exposure to the virus.

  5. Even though home prices continue to rise year-over-year due to lack of inventory, there are sellers out there who need to sell their homes now... there may be opportunities to get "that deal." Just don't count on it being a buyer's market across the borad right now because of the low inventory.

 

 

 

What COVID-19 Means For First-time Homebuyers

 

 

Ready To Start Looking For Your Charlotte Area Home?

 

The Key To Finding A New Home Is Calling Nina Hollander, Charlotte Realtor

If you're a first-time home buyer ready to start looking for a Charlotte area home, Nina Hollander/Carolinas Realty Partners with Coldwell Banker Realty can help you. We can make your home search easy, safe and stress-free. And you can search for your home from the comfort of your home and from your phone.

 

 8 Top Reasons To Own Your Own Home

 

 

 

 

We Make The Charlotte Home Search Process Easy & Safe

 

Charlotte Area Property Search

Search all Charlotte homes for sale on www.GreatHomesInCharlotte.comSearch GreatHomesInCharlotte.com for real estate and homes for sale throughout the Charlotte region. You can search real estate listings by basic and advanced searches, by listing ID number, by map, by subdivision, by price range, by address, by schools, by special listing conditions, by community features, by architectural design, by size of home, and more. You'll find all the Carolina MLS listings here, including single family homes, townhomes, condos, as well as golf course homes, luxury homes, foreclosure homes, active adult community homes, basement homes, homes with pools, and more. No reason not to find your Charlotte area dream home when using our easy to search website.

 

 

 

 

Charlotte Area Property Search: Browse By Location

One of the most important things to consider when buying a home is the community. Check out community resources to learn more about local schools, businesses, events, weather, transportation, and more! I'd love to answer your questions about the areas you're interested in and show you available homes for sale. Call Nina Hollander at 704-779-0813.

 

Search Charlotte Area Properties By Location

 Search For Your Charlotte Area Home Now!

 

 

Home Listing Manager Sign-Up For Charlotte Area Property

Sign up for a free Home Listing Manager account. You can create and save as many custom searches as your like for the Charlotte region. Base your searchs on your needs and desired home features. You can log in and adjust your search criteria at any time.

 

Sign up for a Home Listing Manager Account at www.GreatHomesInCharlotte.com

Sing up for a home listing manager account with www.GreatHomesInCharlotte.com

 

 

 

Listing Alerts For Charlotte Area Homes

Sign up to receive listing alerts for homes that match your specific criteria and find out about new home listings as soon as they come on the market. This is a great feature to save you time while keeping you informed "real time." And it's free!

 

Free home listing alerts from www.GreatHomesInCharlotte.com

 

 

 

Matching Charlotte Area First-Time Home Buyers With Lifestyles For 20+ Years

 

Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty would appreciate the opportunity to earn your trust. We'll help you find your lifesyle within your budget and your time-frame. If  you're a first-time home buyer already living in the Charlotte area or relocating to Charlotte, we are here to guide you throughout the process and would love to earn your business, exceed your expectations, and show you how:

"The Right Broker Makes All The Difference."

 

 Great Homes In Charlotte

 

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

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Oh by the way, I'm never too busy for any of your referrals!

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Buyer Information - What Buyers Need to Know in Today's Market
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Tags:
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buying during a pandemic
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Rainmaker
3,404,752
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina,  I agree with you, with interested rates at a all time low, now if the time to BUY!

May 28, 2020 09:23 AM #17
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm hi Will... the low rates go a long way to increasing affordability of home in a market where home prices continue to rise (like in Charlotte).

May 28, 2020 09:27 AM #18
Rainmaker
3,157,606
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Fantastic blog Nina Hollander and something i find myself telling buyers a lot

May 28, 2020 09:41 AM #19
Rainmaker
2,137,417
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Nina Hollander - there are so many compelling reasons and the short answer is NO don't wait.

May 28, 2020 09:49 AM #20
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Scott Godzyk thanks much, Scott. We need to keep putting the word out there with consistency.

May 28, 2020 10:40 AM #21
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... I can understandy why, but I'm seeing too many people making decision from emotions and not facts.

May 28, 2020 10:41 AM #22
Rainmaker
1,539,433
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Nina Hollander, when a buyer is ready and able to buy, it's the right time. Why wait? Some were reluctant to preview occupied homes about a month ago but that seems to be in the past.

May 28, 2020 12:15 PM #23
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Beth Atalay hi Beth... same here... people are out looking while taking reasonable precautions.

May 28, 2020 12:45 PM #24
Rainmaker
5,772,196
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Smart consumers are anxious to take advantage of the very low mortgage interest rates.

May 28, 2020 01:08 PM #25
Ambassador
3,978,796
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina you provided good reasons not to wait.  Even with some of the stated bonded programs being impacted by the COVID-19 Virus, there are still other options available.

May 28, 2020 03:10 PM #26
Ambassador
3,253,865
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I have been in the zone all day long and I've been feeling very positive. So I would tell Annie first time buyer to go for it with the best agent available; that would be you...

Happy Thursday my friend Nina Hollander 

May 28, 2020 08:55 PM #27
Rainmaker
3,160,567
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

Inventory is down everywhere.  Is there an predictions on when it will level ou,t in your area?  

May 29, 2020 01:00 AM #28
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley good morning, Roy... I sense an awful lot of pent-up demand in the marketplace right now.

May 29, 2020 05:16 AM #29
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto hi George... when buyers work with the "right" lenders, I've found there is always money to be found for specific needs.

May 29, 2020 05:18 AM #30
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS good morning, Paul... thank you for that great endorsement. Happy Friday to you, my friend!

May 29, 2020 05:18 AM #31
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray good morning, James... we've been low on inventory for some five years... the pandemic has done nothing to alleviate this issue and no one has a crystal ball about when inventory might increase.

May 29, 2020 05:19 AM #32
Rainmaker
1,823,522
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

great answers to a very big question on the lips of many people!

May 29, 2020 07:22 AM #33
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lise Howe hi Lise... for sure...it's not just first time buyers who are asking this question right now!

May 29, 2020 07:34 AM #34
Rainer
424,195
Dan Hopper
Keller Williams Realty Downtown LLC - Denver, CO
Denver Realtor / Author / Advocate/Short Sale

 ...  I believe that many of us across the Country has had a few first-time buyers put plans on hold... in some cases, good idea, since they lost a job.  ME, I need a staycation for a months, lol .... OH, I see you are Sold... I sure hope you got a good price... you are ONE of the very best in this industry!!!

May 29, 2020 09:35 AM #35
Rainmaker
3,445,058
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Dan Hopper hi Dan... thank you and thank you for stopping by. No doubt these are very unsettling times for many and it's hard to make a decision about major financial investments. Trust you are staying safe and well.

May 29, 2020 11:30 AM #36
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