When is the Best Time to Buy a House?

Now!  If you have ever asked a Realtor when the best time to buy a house was and received this answer, you may have believed it, or you may have brushed the answer off thinking the Realtor just wanted your business.  Let’s get past the Realtor’s intentions first.  Yes, they want your business.   Yes, they want it now.  But in the end, it may not necessarily be for selfish reasons.  Let me explain.

In the real estate market the only thing we can absolutely be sure of is TODAY!  TODAY, the market is good.  TODAY, interest rates are low.  TODAY, you know what your money can buy you!

As a Realtor, when speaking with people wondering when is the best time to buy a house, I am often asked,  “What about next year?”  I wish I could absolutely guarantee what next year would bring!  But I can’t.  I can tell you how the market is today, and that is all I can do.

While interest rates remain low, there is constant fear of them rising.  This is a HUGE reason why waiting may not be helpful.  One can spend a year pinching every penny and scrimping and saving in order to put down a larger amount, only to find out either their mortgage will be higher than it would have been this year, or they cannot buy as much house as they could have done right now.  This is not even taking into account a potential increase in property values.

Time is Money!

Realtor representation is free to home buyers.  So as soon as you start to consider buying, start looking for a Realtor. But don’t stop there, find a loan officer who you can speak with!  Speaking with them is free too, so why not take advantage of professional advice?

So if you’re considering buying, get that ball rolling!  Find a Realtor and a Loan Officer in your local market and get that conversation going.  Do not rely of information you find online either.  Each market is different, and each person has their own unique situation.  Let the professionals help you out!