First Time Home Buyers – Experts Agree! The Time to Buy is NOW!
First Time Home Buyers – Experts Agree! The Time to Buy is NOW!
Rent or own? An ongoing debate in our ever-changing Real Estate Market. During the recent boom that ended in a devastating explosion, more people opted for owning vs renting without crunching the numbers or looking at the bigger long term picture. If you were thinking to yourself after you were pre-approved for that no-down-payment-interest only-adjustable rate loan, “This seems to good to be true”, I am sure by know you have discovered that it was.
Times have changed. Buyers actually have to qualify for a loan and prove silly things like income, savings, credit stability. What a concept! Shame on you, loan institutions.
So when considering a rent vs own scenario each prospective buyer needs to evaluate their own individual situation and decide what makes the most sense for them.
While loans may be more difficult to obtain, prices have adjusted to a more reasonable level and interest rates remain crazy low.
In this article from the KCM Blog “Even-the naysayers-are-saying-to-buy-now” After studying the rent vs buy debate, analyzing the numbers, benefits and challenges they agree, NOW is a great time to buy!
In a recent survey focused on Echo Boomers by the Urban Land Institute, they discovered home ownership remains a priority in this new generation “more than 70 percent expect to own a home by the time they reach their early thirties. Sixty-seven percent of all the respondents expect to own homes by 2015. Seventy-three percent of those at least 25 years of age and 78 percent of those aged 30 to 32 anticipate owning by 2015.”
The experts and the Echo Boomers agree, and of course we as Realtors think it’s always a good time to buy so what are you waiting for? This is the market and NOW is the time to buy.