Greetings, readers, your trusty finance and real estate aficionado here, ready to dive into the exciting world of home buying. If you’re hesitating, waiting for that elusive ‘perfect’ time to buy a house, let me tell you, the best time is now! Why? Let’s jump right in!
As a real estate investor and agent, I don’t merely advise; I practice what I preach. Yes, interest rates have been high, and for those playing the waiting game for a market crash, it might just be a wild goose chase! During this high-interest period, I’ve expanded my portfolio by 4 units and recently bagged another fantastic deal just a few weeks ago.
High interest rates have had a silver lining: sellers and builders have been rolling out jaw-dropping incentives for buyers. One of my clients recently bagged a staggering $28K in closing costs on a $500K home! Such incentives can be utilized for closing costs, buying down interest rates for lower monthly payments, or for schemes like Rocket’s 3-2-1 Mortgage, which reduces your mortgage by 3% in the first year, 2% in the second, and 1% in the third. This program trimmed down a $3000 monthly payment to a breezy $2000.
But wait, there’s more! The real reason for buying a house now lies in the federal government’s plan to cut rates 6 times this year. What does this mean? Those who didn’t buy a home last year due to high rates will be flooding back into the market. Remember the frantic bidding wars of 2020 and 2021? Yes, they’re likely to return, leading to increased competition and potentially higher costs.
What’s the smart move? Buy a home now, settle down comfortably, and refinance when rates drop – hassle-free! Our partners at Rocket Mortgage offer free refinancing options for our buyers, a perfect way to ride the waves of market fluctuations.
Remember, the wealthy accumulate assets when others can’t, then sell at the top of the market when everyone else is bidding. So, if you’ve been waiting for the rates to drop before buying a home, pause! You can always refinance later. But acquire your dream home now while you can still enjoy the perks of closing costs or rate buy-downs.
So, to recap, here are the compelling reasons to buy your home now:
- Fewer buyer competitors
- High negotiation power with sellers
- Potential incentives – closing costs, repairs, etc.
- Rocket Mortgage’s free refinance program
- The chance to gain massive equity when rates drop and house values rise
So, there you have it! If you or someone you know is contemplating jumping into the property market, reach out to me on 313-330-5417 – I’d be thrilled to assist you in buying your dream home. Happy House Hunting!
About Author
