What Questions Should You Ask Yourself Before You Buy?
August 6, 2021
Do you ever feel like everyone you talk to about wanting to buy a home has advice for you? Sometimes it can feel like advice overload but not everyone’s advice necessarily fits your circumstance or budget etc. They often have your best interest at heart but it is not always as helpful as they intend it to be. Today I will tell you the three most important questions you need to answer for YOURSELF, before you buy a home.
How are the home prices in the market right now?
The housing market prices in your area will directly affect you and how much you pay for the home you are wanting to buy. It will also affect how much the home will appreciate over the time you own the home. Thus also determining how much you will gain on your investment over time. You want the home you choose to gain appreciation and the homes in the area to rise in value so that you get a better return on your investment when the day comes that you sell that home. This appreciation can rise even within the same year so if you find the right one, it's best not to wait because even later in the year that home could cost you much more than it might right now.
What about these record low interest rates?
The interest rates in the real estate world right now are the lowest they have been in a long long time. How long will they stay there? Well there is not an exact answer for that. Most experts do believe that just like home prices will start to rise throughout the year, so will interest rates. It is hard to believe it but your monthly payment can be dramatically impacted by the slightest rise in interest rate. So, again I encourage you if you have found or want to find the right home for you do it now… don’t wait until later in the year.
What makes you value home ownership or makes it important to you?
This one is pretty simple. What is your motivation to want to buy a home now? So many Americans have a new-found appreciation or value of the space they call home due to the impact that covid had on us all. Most were made to work from home, home school children, and even workout or spend 99% of their time inside their homes. This has totally changed people’s perspective of home and increased the importance of home ownership. Here are some things that might motivate you to want to buy a home now:
- Home ownership provides safety and security.
- It’s a huge milestone/step in one's life to accomplish.
- It can offer you a great sense of pride and will also give you a sense of, “This is mine, to take care of or do with it what I want.”
To wrap it up nicely, homeownership is a big step and an important one in life. If now is the time for you to take that big step let me help you and let me make it as stress free and easy as possible. We will walk through the whole process from start to finish and make you a homeowner! I want to be YOUR realtor, so contact me today!