Monday, March 21, 2022 / by Julie Winter-Paez
If you're wondering whether it's a good time to buy a house, ask this instead: Is it a good time in my life to buy a house?
Current economic indicators and the state of your local housing market give important context for your decision. But whether this is a good time for you to buy a house also depends on your financial situation, life goals, and readiness to become a homeowner.
Alicia Dal Ponte, Realtor of the JWP Group at Remax Property Pros, explains why this is a good time to buy a home in Northern Wisconsin.
“I had a great conversation with some buyers of mine regarding if right now is a good time for them to buy in this market. And the question is all about affordability, interest rates, locking in those low-interest rates in a competitive and high-priced seller's market. Is it really a seller's market? Is it a buyer's market? There are different ways to look at both of them right now. As a buyer, your affordability is as high as it can be in terms of looking at the future.
Right now, interest rates are rising. So why not lock in that low-interest rate on a property that makes sense for you and move forward versus paying rent or deciding to wait two years? I'm actually about to head to a final walkthrough for a good friend of mine who has been renting. And the conversation was, I don't want to push my budget. I don't want to push my budget. But you're renting, paying somebody else's mortgage right now, as those rates are still low, it makes sense. It makes sense to find a home that works for you but also stays within the means of what is affordable. And right now, things are more affordable than what they are going to be three months or six months down the road. So realistically, is it a seller's market, or is it a buyer's market in the essence that it's your time to buy? So feel free to give me a shout. Let's talk about being competitive in a crazy market. Let's talk about what your options look like. Need local lenders? I have those available, but let's have a conversation. There's no shut door on a conversation if you don't even ask the questions initially to start.”
Starting your journey toward homeownership can pay off significantly this year. If you’re financially ready today, work with a local real estate professional to discuss your options. We would love to help at the JWP Group, feel free to reach out to us!
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