Find out why buying a home now can save you money and build long-term wealth.
Are you thinking about waiting to buy a home? Before you decide, let me explain why waiting could actually cost you more in the long run. Here are three simple reasons why now might be the best time to buy:
Interest rates: “Marry the house, date the rate.” Right now, interest rates are in the mid to high 5% range. That might sound high, but it’s lower than rates from the past 50 to 70 years. Historically, today’s rates are pretty good. The best part is that rates can change. If you buy now and rates drop later, you can refinance. That’s why we say, “marry the house, date the rate.” You can change your rate later, but the perfect home might not wait for you.
The Economy: Don’t let the election stop you. With the 2024 election coming up, many people are worried about the economy, but should you let the election decide if you buy a home? The economy will always go up and down, but you can control where you live. If you wait too long, you could miss out on building wealth. Homes are expected to go up in value by over $90,000 in the next five years. That’s money you could be earning while you wait.
“The economy will always have ups and downs, but you can control where you live.”
Home Prices: They’re not going down. Home prices are rising and will likely increase over the next five years. That means today’s prices might be the lowest you’ll see for a while. If you’re holding off for a better deal, it may not come. Buying now means locking in a price that could be more affordable than what you’ll find in the future.
Waiting to buy a home could cost you more than just a good rate. It could mean missing out on building wealth. Don’t let fear or uncertainty hold you back. If you have any real estate-related questions, you can call me at (402) 278-1096. I am here to help you make the best choice for your future.