Why Market Conditions Shouldn’t Determine Whether You Buy A Home

April 19, 2022

The question on everyone’s mind…..Is Now A Good Time To Buy A Home?

For the right buyer, the answer is yes! Even with rising interest rates, plenty of people are buying homes. As far as trying to find the “right time” to buy – the perfect market conditions rarely come together. There will always be an upside and a downside. Determine the right time for YOU – when you have the right house that fits your budget, you have the down payment you need, and your credit is in order you can feel confident in any market. If you are looking to make a move or buy a second home maybe the right time is NOW.

 

Here are three good reasons not to put off buying a new home:

  1. Higher interest rates are keeping some buyers out of the market. This means a little less competition out there. Again, if you have budgeted for a down payment, have good credit and know what you can afford you can buy with confidence.
  2. Real estate can be a good investment regardless of market conditions. Many people are buying second homes and investment homes right now. In fact, the Mortgage Bankers Association reported that there were more second home purchases than primary home purchases in first quarter of 2022. Buy now if you are ready and start building that equity.  It is hard to predict when the market will change and what the changes will be. If it makes good financial sense for YOU right now – go for it!
  3. There are loan options that can help with affordability. Angel Oak has various types of loans offering flexibility for borrowers. If you are concerned about affordability but want to buy, call us! Explain your circumstances and we can let you know what you might be eligible to receive.

It Starts With A Conversation!