As a Realtor this is a regular question: “is now a good time to buy?” Ultimately, my answer is “it depends”. The question boils down solely to economics. After the last few years, people are looking for a guarantee that their investment will only steadily increase from this point forward. Well, that’s impossible.
Prices fluctuate. Over the course of any year, from winter through spring into summer tghen fall, demand fluctuates, the amount of homes in the market changes, all kinds of variables change. Finding the bottom is hard, and I believe impossible except in retrospect. Or, in other words, too late to actually buy.
For most folks, though, buying homes is about far more than economics. It’s about connection to community, about families and friends, about the warmth that comes in YOUR honre. Plus, the most powerful economic benefit comesnsin tege long-term. Ten, fifteen years tends to flatten the variations of any short term market spike.
Right now rents are climbing far faster than home prices. Also, interest rates are still at amazing lows; unsustainable lows. The simplest way I can put it: if you can afford to buy, this is a far better time to own thanrentHomeee big piece there: afford. Home buying should be part of a larger financial plan. Bring ready to meet the responsibilities of home ownership is critical. I’ll look deeper into that in another post.
So, there you go. Think further out then next quarter when it comes to deciding to buy, think of the bigger picture. And remember this old parable: the best time to plant a tree ws twenty years ago. The next best time is now.
