2018 - Why NOW is the Time to Buy

Happy New Year and welcome to 2018! If you have been considering the purchase of a new home, then 2018 is the year to do it!. The market is fast changing with new laws coming into play and interest rates constantly rising. What does that mean for you? Well, that there isn't a better time to buy than now. Let's take a moment to break down the benefits of purchasing a home now vs. waiting.

1. INTEREST RATES ARE SOARING

If you haven't been keeping up with the real estate market, you might be missing out on the data around interest rates. They are going up, and they are going up fast. 5% may not seem like a lot, but it can be the difference between hundreds, or even thousands of dollars on what you are paying out towards your loan on a monthly basis. Would you want to pay an extra $200 towards interest for your loan each month, or would you prefer to pocket that $200? I think the answer is obvious. Buying a home now while interest rates are at a low is going to be an advantage, both now, and long term. Take advantage of today's rates and purchase a home that doesn't cost you extra just because of interest.

2. HOME PRICES ARE INCREASING

Home prices are on trend to continue to climb in the next year.  A home that is worth $200,000 now could go up exponentially in the next 10 years due to increasing market conditions. The other component to keep in mind is that wages are not increasing as steadily as the cost of living. Purchasing a home in today's market can get you a bigger and better deal on a house than if you were to wait a few years. Making a move now can be a great investment for your future. 

3. COMPETITION IS GETTING BIGGER

Population growth is real. With more people, comes more competition for homes. Buying your home now, while the competition isn't as strong as it could be 5 years from now, helps you get a better deal on the home you want now vs. if you were to wait it out. 

The ball is in your court in today's market. There isn't ever a better time to purchase than now. Avoid the competition and the increase in fees and prices. Take advantage of the current market which is in favor of the BUYER.