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Home » New Year, New Home? Are You Planning on Buying in 2022?

New Year, New Home? Are You Planning on Buying in 2022?

January 4, 2022 by Karen Baker Leave a Comment

New Year, New Home? Are You Planning on Buying in 2022?

The New Year is here! As people across the globe begin their resolutions, many people are hoping that the year 2022 is the year they’ll be able to buy their first home. Whether you’ve been saving up for a down payment relentlessly over the past few years, or you’re hoping to secure a loan with a low down payment amount, the year 2022 could see a huge rise in first-time homebuyers.

Why?

New Year, New Home? Are You Planning on Buying in 2022?A lot of first-time buyers have been anxiously waiting for the real estate market to crash. While the market has remained healthy and seems to continue to flourish, many homeowner hopefuls were anticipating a crash much like the 2008-2012 housing market. During this anticipated crash, many first-time buyers were hopeful to purchase a home far below the current market value to have minimal mortgage amounts and a thus, live a life of financial freedom while still maintaining a home and becoming homeowners.

Related: Why Condo Living is Becoming Popular

What Changed?

So, what exactly changed? The short answer, the market. It’s been quite a while since COVID first shut down the country, and while in the beginning many experts felt as if the market would crash, the opposite has proven to be true, and the real estate market has flourished with house prices continuing to rise. With home prices seeing near continuous increases, those that were initially waiting to pounce on the market’s potential crash are now re-considering their options. Many first-time buyers are now shifting their gears and hopeful to purchase their first home in 2022 before the market continues to rise, as the current trend isn’t showing proof of slowing or crashing anytime soon.

Related: Questions to Ask Your Home Inspector

Another reason that many people are choosing to purchase a home in the New Year is simply due to the drastically low interest rates. While home prices may be more than many homeowner hopefuls had expected, due to the low interest rates, while the purchase price may be high, the amount saved over the life of the loan could end up allowing homeowners to spend less in the long run than if they’d waited for a crash and thus purchased a home that may have had a higher interest rate.

If you’re currently searching for a new home, are ready to sell your home and need a qualified seller’s agent to assist you, or if you have any further questions regarding Carolina Real Estate, please feel free to contact our office at any time.

More Information for Buyers

  • How to Make an Offer on a Home
  • Should I Buy a Single-Story or a Two-Story Home? Part One
  • Should I Buy a Single-Story or a Two-Story Home? Part Two
  • Why Your Offer May Not be Accepted
  • Buying a Vacation Home
  • Forgotten Costs When Moving

Filed Under: Buyers

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“Life will lead you to where you belong. Five years ago life led me to meeting Karen Baker at an...
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“Life will lead you to where you belong. Five years ago life led me to meeting Karen Baker at an Open House. Our relationship continues as Karen and her husband Frank have been outstanding not only in helping my husband and I find the right retirement relocation home, but we have watched their commitment in helping many others find their homes. She and Frank treat every client as if they are the only ones that exist. They provide thorough research of areas and homes of interest and present you with the options. They are not your typical hard sell, must-buy-now realtors. They are here to help you find your next home?. You won’t go wrong with the Bakers!
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“The Bakers treated us like family during our whirlwind weekend of looking at houses. Prior to our on-site visit to Sunset Beach they created a portal and populated it with properties that met our ever-evolving criteria. By time we arrived we had a good feel for what we could afford and what was available that met our criteria. The Bakers, especially Karen, were able to make sense of what we thought we were looking for and eventually matched us with a house that we ended up purchasing — Karen called it the “This is it” house and she was right. We are loving our 2nd home and appreciate how painless Karen and Frank made the process. All the paperwork was done seamlessly and quickly and the closing went off without a hitch. The Bakers do not believe in the hard sell — they gave us the knowledge we needed and the guidance we needed to make our dream a reality.”
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Amy and I have bought and sold four properties in the past twelve years. Both of you are the best...
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Amy and I have bought and sold four properties in the past twelve years. Both of you are the best realtors we have ever dealt with. Amy and I both felt we could trust you to look out for our interest. The level of service you provided was outstanding, from taking the trash out, helping the buyer with inspecting the irrigation system, dealing with our tenants, always being there if we needed to ask a question, providing constant updates on the market and always keeping us informed on the sale of our house. I think your next venture should be training other realtors, because both of you have mastered the art of providing excellent service. I will be sure to recommend the Frank and Karen team to anybody looking for a trust worthy, knowledgeable and top performing realtor. It was a pleasure working with both of you.”
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“Karen & Frank Baker are the best. They are very knowledgeable with the area & showed us many homes. When...
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“Karen & Frank Baker are the best. They are very knowledgeable with the area & showed us many homes. When we made up our minds which one we wanted, they got us the best deal on it. We were very satisfided with them. After the purchased was made & we moved in, they were still there to answer any questions or problems that we might of had. Like I said, they are the BEST.”
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