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Information for Home Buyers
It's a Good Time to Buy
Today's "seller's market" has some prospective homeowners wondering if it really is a good time to buy. Limited inventory of listings has created high demand, with homes frequently selling at close to or even more than their list price. There are even occasions where multiple offers result in "bidding wars", a situation that we haven't seen in many years. Under such circumstances, some buyers are questioning whether they're getting good value for their money, and whether it still makes sense to buy in this market. The short answer is "Yes".
First of all, remember that mortgage rates are the lowest we've seen in a very long time, and can be locked in for extended terms. This means that the monthly carrying costs for a home are extremely affordable, and can continue to be so for many years. Your Homefront sales professional will be happy to help you determine how much home you can afford, and what your estimated monthly carrying costs might be. You may even find that you can carry a house for an amount that's quite comparable to today's high rental costs. And remember, when you're renting, you can expect that your costs will increase over the years, while mortgage payments stay the same throughout the term of your loan.
As an investment, real estate has the potential for stable profit that you will not find in today's climate of low interest rates, and volatile stock market rides. More importantly, it's one of the very few investments available to any of us that have the potential to appreciate significantly while it also enhances the quality of your life. You can enjoy the freedom and independence of owning your own home at the same time you build equity for the future.
Finally, don't forget that the reason there are so few listings out there is because other prospective homeowners like you have already recognized the value of buying in today's market, and have made their home ownership dream a reality!
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