Don’t get discouraged: It’s still a fantastic time to purchase a home.

We speak to many buyers every day. Recently, we’ve heard a lot of concerns about inflation and rising interest rates, and we understand. Fortunately, it’s not all bad news. Today we want to talk about the state of our market for buyers. 

Rising interest rates negatively impact buyers’ purchasing power. This certainly isn’t a good thing, but there is a silver lining. Less serious buyers will be pushed out of the market, so if you stick things out, you’ll have less competition.

“If you plan to stay in your new home for a while, it’s still a fantastic time to buy.”

Buyers are also concerned about rising prices. Not only are they climbing, but it’s likely that you’ll have to offer above the list price to win a home. However, this is because many sellers underprice their houses to create a bidding war. So while you may have to offer above list price, you won’t be overpaying for the property. 

Inflation is also rising, and many buyers are worried about their increased costs of living. Buying a home is a fantastic way to alleviate these worries. Home prices are expected to rise for the foreseeable future, so if you purchase now, you can begin building equity and long-term wealth. Plus, your monthly payment will be locked in, so you won’t have to worry about increasing rents. 

If you want a great team to help you buy, give us a call or send us an email. We are always willing to help!