- Low Interest Rates - Rising interest rates mean less home for the money and higher monthly payments.
- Homestead Exemption - Waiting until the first of the new year to buy will delay any tax exemption.
- Military Relocation - November and December are common months for military transfers. Service members will be looking to sell as quickly as possible.
- Better end-of-year deals - Sellers and builders are typically extremely motivated to sell before the Holidays and the end of the year.
- Buying is an investment - Simply put, when you rent, you're spending and when you buy, you're saving.
According to John Owen with our preferred lender, Movement Mortgage, "Dirt cheap mortgages could disappear. The Federal Reserve is widely expected to begin increasing interest rates soon, which means the window for record low mortgage rates is closing. While rates are expected to go up gradually, higher rates push up borrowing costs and monthly mortgage payments. You are likely to get the best rate you will possibly see, perhaps in your lifetimes through the majority of next year, but certainly, the earlier the better."
If you've been considering purchasing a home, waiting may not be the best option. Is NOW the right time? Click here to find your new home.