In this week’s episode of Home Buying 101, Shalise Kendrick from the Shannon Jones Team at Keller Williams Realty delves into the critical question: Should you buy a home now or wait? While timing the market can be complex, and personal circumstances vary, there are undeniable benefits to buying a home in the current market.
Building Equity for the Future
Buying a home now allows you to start building equity. Each mortgage payment you make helps increase your home’s value, giving you the option to borrow against it in the future for other investments or projects.
Less Competition, More Negotiation Power
With fewer buyers in the market, you have an advantage in negotiations. Instead of sellers receiving multiple offers, you have an opportunity to negotiate on price and terms, putting you in a stronger position
Take Advantage of Relatively Low Interest Rates
Although interest rates may appear high compared to historical averages, they are still relatively low. Experts even predict that they may drop further. Buying now allows you to benefit from refinancing at a lower rate in the future. Renters don’t have the same advantage.
If you need more information about the home-buying process, feel free to reach out to us. Give us a call at 562.896.2456 or fill out the contact form below.
