Is Now the Right Time to Buy a Home?
Roger Babson, an entrepreneur and business theorist in the first half of the 20th century once said, “Let him who would enjoy a good future waste none of his present.”
If the theme this year has been “uncertainty” for many people, be it jobs, family, health, or even the right time to buy a home, there will surely be many people whose theme in a few years will be “regret.” Uncertainty paralyzes us from making decisions and seizing opportunity. Many people will look back on this year and ask themselves, “Why didn’t I buy a home?”
I strongly urge my closest friends and family to seriously consider buying right now. Not only have prices sunk to an historic low, we’re also faced with the best interest rates we’re likely to see for more than a decade. What’s more, even a 1% jump in rates can turn into a 10% increase in monthly mortgage payments. Even if you’re waiting for prices to decline, you could end up spending more out of pocket in the future should rates begin to climb.
In the end, there’s no harm in exploring your options to buy right now, even if you’re not sure you can. I’d be happy to confidentially consider your position and help you determine if you’re ready to capitalize on this market.
If you’re at all curious what you can do today to improve your financial picture in the tomorrows ahead, please get in touch.