Is Now a Good Time to Buy a Home?
May 8, 2015There has hardly been a better time to purchase a home than this year. Since the housing market crash in 2007, the economy has steadily been gaining momentum. Economists are being optimistic with their predictions regarding the strength of the housing market and the economy. Plus, home prices are still affordable and interest rates are currently at historic lows.
Now may be a good time to buy a home before home prices start rising and mortgage rates start to creep up again. Here at Luetgert Development we wanted to give you some facts to help you determine if now is the right time to purchase a home for you.
Here are some things to consider:
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It’s a buyer’s market, demand is low and supply is high
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Mortgage rates are near all-time lows
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Buying is less expensive than renting in most markets
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Home prices are still affordable
It’s a Buyer’s Market
As a buyer, you have options. Buyers have the luxury of choosing from an abundance of readily available homes on the market. Chances are with all the competing homes in the area, you will get a nice home for a really good price.
Is It The Right Time to Buy?
While there are multiple things you should always take into consideration before you take the plunge, do your research. Take the time to educate yourself on the market, interest rates and the economy. Although the current market statistics can be favorable to you as a buyer today, a shift of the market can happen at any given time.
Follow market analysts and economists as they are professionals and can often predict future market trends, whether it’s good or bad news. Always go with your gut instinct and do what feels right for you, because what works for you may not work for someone else and vise versa. You are the only one that can make the decision. Are you ready to take the plunge? Is now the right time for you?
Did the information in the article help you? Tell us if you are ready to buy a home. Here at Luetgert Development we want to help make your dream home a reality. If you are in the Ocala, FL area and you are looking for a custom built home, please contact us. We would love to speak with you.