Let’s start by making one point very clear – Hopper Communities would NEVER pressure anyone into buying a new home. That is one of the biggest decisions in life, financially and emotionally. Home is where the heart is, and your heart should be fully into your decision to become a homeowner. That said, we’ll also sincerely say this: NOW, yes, believe it or not, NOW, is one of the best times in US history to buy a new home, whether you are a first-time buyer, moving up to accommodate a growing family, or downsizing to make the most of empty-nest years. There are myriad reasons why…here are just a few.
Availability – “Avail” Yourself of a Buyer’s Market
Because the housing market is so energized right now, new homes that go on the market only stay on the market for a few weeks, or even a few days. That old adage about striking while the iron is hot is in full play in today’s residential real estate climate. Decisiveness and a firm resolve to act when the best opportunities present themselves are the keys to rewarding home purchases in market conditions like these.
So, be sure of yourself, be sure of your finances and credit rating, and be ready to act when that ideal listing crosses your path. That said, perhaps the most important factor is to be certain about what you want in a new home. A fast-moving housing market does not mean that you have to compromise. Be steadfast about what you want in a new home – the location, the design, the square footage, the price, everything – and don’t waver.
With Mortgage Rates Today – WELCOME HOME!
There has literally never been a time in American history when mortgage rates have been this low. If you’re under the age of 50, just ask your parents or grandparents what interest rates were 30 or 40 years ago. They’ll probably tell you that if their mortgage lender offered them a 30-year fixed-rate term of 8 %, they would have danced in the street in front of their new house. Even 11 or 12% interest rates were welcomed terms back in the day. But these are new days, when fixed-rate, 30-year mortgages – and even 15-year mortgages, for that matter – are well below 3%. And your parents and grandparents will also reassure you, especially if you are buying a home for the first time, that owning a home is one of the smartest financial decisions you can ever make.
It’s Never Been More Affordable to Have So Much Choice
Getting back to an earlier point, let’s talk about compromise. Forget it! In today’s housing market, not only can you get the financing terms of your dreams, you can get the new home of your dreams, too. Buyers now have their full choice of architecture, layout, location, finishes and overall design, without having to renovate an older home at more expense or live with features that aren’t ideal.
The Race is On, But Remember That You’re in the Driver’s Seat
The pace of today’s housing market can seem daunting, and with world events right now, it’s easy to tell yourself that this is not the best time to make a major purchase decision like a new home. DON’T listen to those voices. What new home buyers are looking at right now is opportunity, not uncertainty. Perhaps the biggest upside is that with such tight new home inventory, and such unprecedented favorable financial conditions for home buyers, you probably won’t have to look too far or too long to find the new home that really does check off all of your wish list boxes. Especially that box at the end of the list…the bottom line.