Here we are, finally. Although, you might want to tell mother nature that it’s spring because, in so many places around the country, winter still seems to be hanging on tight. But that’s okay, the spring season is upon us and that means summer will be here soon so why is spring a great time to buy a house?
#1. Prices and rates will continue to increase.
It’s no secret that home prices and interest rates are creeping up slowly. But slowly is a good thing; we don’t want anything to creep up too fast or drop for that matter. We’re keeping a pretty balanced market for the last few years but unless you want to pay more for a house next year, it would be a good idea to buy now before rates and prices go up too much..
#2. You are paying someone’s mortgage.
Regardless of whether it’s your own or your landlord’s mortgage, you are paying a mortgage. Some renters may have not purchased a home yet because they are uncomfortable taking on the obligation of a mortgage payment. But, everyone is paying a mortgage in some form or fashion. As a homeowner, your mortgage payment is a form of forced savings that allows you have equity in your home you can tap into later. If you’re renting, your landlord is the person with that equity.
#3. Beat the competition.
The home buying season is right around the corner, which means there will be a lot more competition. Homebuyers usually like to wait until kids are out of school so by looking at homes before the end of the school year, you can get a jump on your competition.
#4. It’s time.
The best time to buy a house is the best time to buy a house for you. It’s different for everyone, but with the interest rates staying low, home prices staying moderate, and the fact that you are paying a mortgage anyway, isn’t it time you paid your own? If you’re planning on staying in a house for two years or more, buying is really the best option. If you know where you want to live, finding and purchasing a home will jumpstart your savings, building equity, building a foundation that you can lean on from time to time, and simply have the sense of accomplishment. Isn’t it time that you owned your own home?
Related: Best Q & A for Home Buyers
If you think that now is the time give us a call. We’d love to talk to you about how much a mortgage payment would actually be an what’s available in your price range throughout Sunset Beach.