Here’s how you can decide whether it makes sense to buy or not.
Today we want to answer a question we hear a lot in our current market: “Is now a good time to buy?” Most people know we have low inventory, and sellers have the upper hand. However, does that mean it’s a good idea to sit out of the market?
The truth is that it depends on your situation. It may be disappointing to hear that there’s no ‘correct’ answer for everyone, but it’s reality. To make your decision easier, we want to share a recent example that highlights when it might be time to make a move.
We have clients who own a two-story home with 4,000 square feet and four bedrooms, but all their bedrooms are on the second floor. There’s no master bedroom on the first floor, and in our experience, these homes aren’t going to get any easier to sell. As our population grows older, houses without a master bedroom on the first floor will be a non-starter for a huge group of buyers. Because of this, these clients sold their old homes and entered the market as buyers to find something that would appreciate better down the line.
If you don’t plan on leaving, you might want to take advantage of our great interest rates.
Another big factor that helped these clients decide to finally enter the buyer market was that they planned to stay in their new home for a while. They own businesses in the area and have no plans of leaving anytime soon. However, if you have plans of leaving your location for a job, family, or school, you might want to think twice about buying in this market.
At the end of the day, what’s best for you depends on your situation. If you’re renting but you plan on staying in the area, it may be time to enter the market. If you plan on leaving in a few years, it might be better to wait.
If you have questions about your situation or anything else, please call or email us. We are always willing to help!
