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Is this the right time to Buy a Home?

Todays Date: October 20, 2018

Not only could this be a great time to buy a house, it could be the best time in years. Home buyers seem most interested when prices are high. We should be more interested in buying a house when they are selling for less. That’s right now.

Of course, if you have a home you may want to hesitate to move up to a larger one. Given the number of people in over their heads on their mortgages, it might make sense to be cautious. But if you are hesitating because you don’t want to sell your current home at these lower prices, think again.

So Why may this be the best time to buy real estate?

Now, if you have the financial ability, you might want to purchase the new home without selling your existing house. You can rent out your current property and wait for until you can get more for it. But if you need to sell to buy, now is the time.

It’s been a long time since there has been such a steep decline in the prices of homes. It’s what every other industry would call a sale, but we call it a correction in the real estate industry. Of course there is no guarantee that we have reached the bottom on prices, but at the very least you know you are paying less than you would have a couple years ago, which is always a good thing.

What if you’re a first time home buyer? Well it makes sense to buy something when it’s on sale. Interest rates are still low (as of late 2008) . And although it is tougher to get financing now, this isn’t all bad. You can feel safer knowing that banks and other lenders are no longer allowing borrowers to get mortgages they can’t afford.

Houses on sale, interest rates still near all-time lows, and lenders no longer pushing mortgages that get you into trouble – this may be the best time to buy a house.

For more information on purchasing and Selling your Home Visit:Belleville Real Estate or Port Credit Real Estate

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