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5 Reasons to Buy a House Right Now
Why You Should Find Your Dream House Today
Being ready to buy a home relies on you wanting to buy a home, being financially prepared, and having a good credit score. If you check all of these boxes, here are 5 reasons why now is the best time to buy a house!
- The prices are good- Although the house prices have continued to grow over the recent years, they have slowed significantly lately. The 10-City Composite gained 5.5% year-over-year, which is down from the 6.7%. This is great news if you were once worried that big price gains would put a home out of reach for you.
- Rates are low- Interest was once 18% in October 1981. This is almost unimaginable, compared to the today’s average of 5.18% which is, thankfully, much more bearable.
- Loans are becoming more accessible- Major loan companies are making adjustments to their loan requirements. They are lowering the minimum FICO score for borrowers, which mean that buyers don’t need perfect credit or to put a huge down payment on their ideal house.
- Holiday shopping- Buyers who are actively looking to purchase a home during the holiday months, namely, October through December, have less competition of other buyers and offers. In addition, the home owner is more likely to sell in time for Christmas, even if that means selling the house below the offer.
- Buying is often cheaper than renting- Depending on where you are located, prices of rent are considerably more than a mortgage on a house. It is suggested that a 30 year fixed rate of 4.5%, is 38% cheaper than renting nationally. With that said, why not live in your luxury, dream house for cheaper?
If you are committed to buying a home, I, Betsy Dittman will help you find your dream home and streamline the escrow and closing process. With your needs and requirements in line, I will be sure that you find the perfect home! Learn more about my buyer services here!
#1 Tip for Home Buyers
Don’t Wait for a Better Deal!
With the hot economy, mortgage interest rates, and high home values, buying a home is tougher than it has been in some years. Some homebuyers may be wondering whether to wait for the economy to improve to receive a better deal.
Whether you wait to jump into the market, or go ahead with purchasing a house, there are risks involved. If you don’t buy, the prices of home value, interest rates, and fees could go up even more. You’ll end up paying more in rent and when you decide to buy, homes that you could have afforded are now too expensive for your budget. If you do decide to buy a home, prices could go down which may strain you financially, possibly leaving you with an expensive asset that is hard to sell. On the other hand, if you buy and prices go up, you’ll accumulate instant equity, a savings account of some form, all while receiving considerable tax breaks and other incentives. Your home would increase in value instead of losing value.
Many other costs that may affect the decision to buy a home are commutes, schools, moving, as well as down payments. Factors of lifestyle, safety, comfort, and the community will also influence your decision to move. All of these should be taken into consideration when finding the right house for you.
To find the perfect home for you and your family, contact Betsy Dittman. I am a professional real estate agent, serving the areas of Los Angeles, Conejo Valley, and San Fernando. With my successful buyer services, I will assist you in the whole house buying process.
