Considering buying a home?
Spring and summer are the most popular times to house hunt, and chances are you’ve noticed the competition for homes in your area if you’ve attended any open houses. As you begin your journey to home ownership, chances are you’ve vacillated if now is the right time to buy or not, which is perfectly normal. Buying a home can be a daunting prospect, but there are three things you can ask that will solidify your resolve that now, in fact, is the time for you to make the leap.
Why do you want to buy a home at all?
While this may seem like a bit of an obvious question, why to buy a home is more than a financial question. At the end of the day, the most common reasons people with children, or couples planning to have children , want to buy a home have nothing to do with money at all.
According to a survey by Braun, 75% of parents say that “their child’s education is an important part of their search for a new home.”
This survey supports a study by the Joint Center for Housing Studies at Harvard University highlighted the top four reasons Americans buy a home:
- A good place to raise children and for them to get a good education
- A place where you and your family feel safe
- More space for you and your family
- Control of that space
What is driving you to want to buy a home? Beyond the money aspect, the lifestyle changes you seek are most likely the bottom line of what you choose to do and when
Is investing in a home worth it in today’s market?
Short answer, yes. The concern that investing in a home could become more debt than value based on market behaviors is a bug concern to anyone that remembers the 2008 housing crash. However, rest assured that your home investment today offers follows a positive trend for the future. According to the latest Existing Home Sales Report from the National Association of Realtors, median prices are up 5.8% nationally since last year. This marks the 63rd consecutive month with year-over-year gains.
Investing in a home now means a great chance of visible value gains on your property. Buying now also ensures a lower price than you’ll find next year.
How do I ensure I get the best mortgage rate?
Getting the best rate for your mortgage is achieved by taking two steps, at the beginning of your home search.
- Checking and managing your credit and debt scenario.
- Connecting with local mortgage representative who knows the market where you seek to buy a home and will guide you to the best rates.
Now is the time to begin the home buying process.
Assess your personal reasons for buying a home and connect with a mortgage professional to get started today.