Here are five reasons why you should buy this holiday season.
If you’re looking to buy a home, you’ve probably been hearing both sides of the story: It’s a great time to buy, but it’s also hard for buyers in our seller-driven market. It can be daunting to get started, but that’s why I want to share five reasons to buy this holiday season:
1. There is less competition. So many buyers put the house hunt on the back burner this time of year. We’ll probably see the market heat up again in February of 2022. Right now is the sweet spot.
2. Rent is going to increase. If you’re a renter in San Diego, you’ve probably noticed that your landlord is raising the rent. If not, they probably will soon. Nationwide, we are seeing a rental increase of about 2%. Remember that if you rent, 100% of your payment is interest because you’ll never see it again.
“Right now is the sweet spot.”
3. Interest rates are going up. Rates are always rising and are scheduled to rise more in 2022. They determine which homes you can afford and how much you pay monthly. Just half a point of interest can increase your monthly payments by $50 to $100.
4. Home prices are rising. Not only are we dealing with inflation, but we also have a shortage of inventory. Basic supply and demand means that home prices will keep rising.
5. I don’t want you to miss out. Real estate helps you build wealth. Every month that you own a home, the value rises, and all that equity will eventually go back into your pocket.
There are so many strategies we can use to help you win your new home. If you’re looking to buy, give me a call at (209) 342-7262, and we can look at which strategy works best for you.
