The housing market finally seems like it’s starting to return to normal. Today, there’s a healthier balance between supply and demand, giving homebuyers some of their negotiation power back – a nice advantage. There are other benefits of buying a home now too. Here are five reasons why you don’t want to wait any longer:
Build equity right away
No matter which way the real estate market is leaning, you’ll start building equity immediately if you buy now. Why would you want to build equity right away? Because it provides certain advantages, like adding to your net worth, gradually converting your mortgage debt into an asset, and the ability to take out a home equity loan or line of credit.
Avoid future mortgage increases
No one can predict the future. Sure, mortgage rates may go down…but they also might increase. If they go up, not only will your payments be larger, but you’ll also pay a lot more in interest over the life of the loan.
Avoid FOMO (fear of missing out) on a house you love
If you discover your dream home, don’t delay making an offer. Home inventory remains low. That means finding another house that ticks everything on your wish list will be challenging. Instead, move quickly with an offer now so you don’t miss out on the home you love.
Don’t let financing stop you
If you decide to wait to buy your dream house to see if rates improve, you’re doing yourself a disservice. Instead, shop around now for the best deal you can get. There are some great creative financing options available now. And remember, provided that your income and credit score remains strong, you can always refinance down the road if rates decrease.
Put your downpayment to work
If you’ve already saved enough for a down payment on a house, don’t let it languish in a bank account collecting little interest. Let that money provide you with a place to live instead. Putting down a hefty down payment will improve your financing options, making your payments lower and easier to digest.
At Harbor Club, there is an excellent selection of new home inventory, as well as some very nice incentives for homebuyers. There are also prime homesites for building the house of your dreams, including gorgeous waterfront and golf course lots. Even better, our seasoned Real Estate expert at Harbor Club, Kathy Phillips, makes home-buying easy and stress-free. So don’t wait until the best properties are gone – contact us today to schedule an exclusive tour of our award-winning Southern Living Inspired Community.