There are lots of things to consider when buying a home, for the first time or if this is a resale and move up or down.
- Market Conditions
- Interest Rates
- Buyer's market or Seller's Market
- Family dynamics
- Job demand
People often ask me, is this the right time to buy? My answer is usually along the following lines:
Why are you thinking of moving?
The answer to that question is really the answer to whether this is the right time to buy or move. If you have situations that require a move then this is the right time. Maybe a divorce, or a marriage, an addition to your family, an aging relative needing care, a new job in a new area, there are so many reasons.
You are the one who decides if now is the right time to move. All the external things like interest rates vary all the time. They go up and down, but when they go down you can always refinance. As the saying goes "Marry the house and date the rate!" Whilst we may not see rates as low as they were in the 2-3% range and more likely they will remain in the 6-7% range for the foreseeable future if you HAVE to move then now is the right time.
Owning a home allows you to build equity, rather than paying rent and allowing a landlord to build the equity, there are also tax advantages to owning a home, but with the rising prices we have seen over the last few years due to lack of homes for sale, the increase in equity is a strong reason to buy a home as soon as you can.
So, if you have a reason to buy a home on or around the Main Line or in Chester County give Nick Vandekar, Selling the Main Line and Chester County with Realty ONE Group Advocates a call at office 484-237-2055, cell or text 610-203-4543, or email to set up an appointment for a consultation on options and process at Nick@VandekarTeam.com. I look forward to working with you and giving you the confidence to make the right decisions throughout the transaction.
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