The current narrative is that home prices have risen so much so that it is no longer a smart idea to purchase a home. Your family and friends might suggest that buying a home right now (whether a first-time home or a move-up home) makes absolutely no sense from an affordability standpoint. They are wrong! When To Buy A House
Homes are more affordable right now than at almost any time in our country’s history except for the foreclosure years (2009-2015) when homes sold at major discounts. As an example, below is a graph from the latest Black Knight Mortgage Monitor showing the percentage of median income needed to buy a medium-priced home in the country today in comparison to prior to the housing bubble and bust. When To Buy A House
As we can see, the percentage necessary is less now than in those time periods.
The Mortgage Monitor also explains that home affordability is better today than it was in the late 1990s in 47 of 50 states.
Your friends and family have your best interests at heart. However, when it comes to buying your first home or selling your current house to buy the home of your dreams, let’s get together to discuss what your best move is, now. When To Buy A House
GUIDE TO BUYING A HOME
Buying a home usually represents your single biggest investment .
The home buying process is one of the most exciting, and frequently stressful, experiences you’ll ever go through. This holds true whether you’ve bought many homes or you’re looking to buy your first, whether you’re in the market for a new primary residence, an investment property or that perfect vacation getaway. Today’s real estate market can offer more opportunities, yet can be filled with more risks than ever before. There are a multitude of factors to consider and decisions to make when Buying a home . When buying, it’s crucial to have all the available resources necessary to make a well-informed decision, together with the time required to make use of them. It’s important to enlist the help of a trusted real estate professional ” Keith Kreis “who’ll be able to provide expert guidance at each step of the buying process. Finding and Buying a home includes the following steps, which we’ll examine in more detail throughout this booklet: When To Buy A House
1.) Define your goals, research your options, make your plans
Given that buying a home is such a big step, it’s very important to educate and prepare yourself as much as possible. This means clearly determining the reasons you’re buying and what kind of home you’re looking for. Since buying and financing Buying a home are so closely related, it also means examining your current financial situation and projecting how much you can afford. When To Buy A House
Once you’ve answered these questions, even tentatively, you’ll be in a better position to research housing and mortgage options, and create an action plan and timelines for moving forward. Although it is possible to do this yourself, you may benefit by consulting an experienced real estate professional like myself to help guide you right from the start. When To Buy A House
2.) Contact a real estate professional
Buying a home is a complex matter with many factors to consider since no two homes or transactions are alike. Moreover, with all the unique opportunities and potential pitfalls of the current market, it’s more important than ever to contact a real estate professional “Keith Kreis “decided toBuying a home . When choosing a real estate professional to guide you through the property search, financing, negotiation and transaction processes, you should consider my local market knowledge, experience, and track record in Buying a home . When To Buy A House