It’s logical to put a lot of thought and time into a big life decision like buying a new home. There are a lot of factors to consider like price, location, etc., and it’s not a process you want to rush. However, if you have all of these concerns figured out, there’s no time to waste! This is the ideal time to purchase a home, so if you’re ready to buy you shouldn’t delay. Why should you buy a home now? Well, let us tell you.
Here are three reasons why you should consider purchasing a home now:
Interest rates may go up. While they may not rise too dramatically, an increase in interest rates could also mean an increased monthly payment on your mortgage. It’s important to keep track of interest rates over the course of a few weeks to see if they are going up, going down or staying the same so you can make an informed decision on what kind of loan you need and how you can plan on paying it back.
Sellers want to get their homes off the market quickly. With the holiday season approaching people will be prioritizing other purchases, meaning sellers may be willing to negotiate their prices in order to make a sale faster. Take advantage of this opportunity to get a great price before time runs out!
Fewer buyers mean less competition. As I mentioned above, sellers want to sell quickly, but many people are delaying buying until later in the year. This is ideal for you, as there won’t be as many buyers vying for the same house that you’re interested in. Sellers may be more willing to negotiate in order to keep your interest and improve their chances of making a sale.
Have we sold you? If so, contact your real estate agent today. Every second counts!