Buying a home. Is now a bad time?
Why It's (Almost) Never A Bad Time to Buy a Home
If you've put your home buying plans on hold because of rising rates and prices, you may want to think again. It could still be a very good time for you to buy and Here's why:
Today's inflation may be creating a better outlook for buyers, as it tends to reduce competition for homes. And the equity earned by homeownership has always been a good "hedge" against inflation.
You may be happier buying now. Homeownership offers a sense of belonging and security that everyone in your family will appreciate. You'll also avoid future rent rises while reaping attractive tax benefits (your tax advisor can fill you in on these).
Attempting to time the real estate market is tough. The 2020 arrival of COVID was a big reminder that nobody can predict tomorrow's markets. So, if you're waiting for interest rates or home prices to fall before buying, you may end up waiting for years while you miss out on the economic and personal benefits of homeownership.
Mike & Cindy Jones
Berkshire Hathaway HomeServices
Florida Network Realty