Don't Be Afraid To Buy

It's a common fear among buyers, especially first-time homebuyers, to be hesitant about purchasing a house. With the uncertainty of the economy it's understandable to feel uneasy. However, there are several reasons why people shouldn't be afraid to buy a house right now.

One of the biggest reasons to buy now is that home prices are increasing. According to the National Association of Realtors, the median existing-home price for all housing types in June was $363,300, up 23.4% from June 2020. Waiting too long to buy may mean missing out on a good deal and having to pay more in the future.

Another reason to buy now is the historically low mortgage interest rates. Rates have been hovering at or near all-time lows, making it more affordable to buy a home. This means that buyers can get more house for their money and potentially save thousands of dollars over the life of the loan.

The pandemic has also changed the way people view their homes. With remote work and social distancing, having a comfortable and functional home is more important than ever. Many buyers are looking for more space, both inside and out, to accommodate their new lifestyle. Plus, with the pandemic creating a housing shortage, buying now means having a better chance of finding a home that meets your needs.

Lastly, buying a home is an investment in your future. Homeownership builds equity and provides stability. It allows you to make improvements and create a space that truly reflects your personality and lifestyle. Plus, owning a home can provide tax benefits and serve as a retirement plan.

In conclusion, don't let fear hold you back from buying a house. With home prices increasing, low mortgage rates, and a new appreciation for comfortable and functional living spaces, now is a great time to take the plunge and invest in your future. Contact a real estate professional today to learn more about your options and get started on your home buying journey.