With Spring on the way in the Midwest, it’s time for people to start looking at buying new homes. Moving into your new house is easiest in the spring. You’re not worrying about snow, ice, and cold, and you can see the house’s landscaping and exterior the way it is meant to be. Here are 3 reasons why this spring is the time to buy a new home.
Home Values Are Rising
If you think you’ll get a bargain on that house by waiting, think again. Home prices are rising daily as people seek to take advantage of the low-interest rates available.
Home values have risen month after month, giving sellers more and more confidence to ask for more money for their homes. It’s a cycle, where you can watch the values rise and the home price itself out of your range.
Now, if you rent, it’s a different story.
Owning Versus Renting
You always hear this argument. “I could afford the home, but I can’t afford to make repairs or keep up the house!” What people don’t take into consideration there, though, is the big tax breaks afforded to homeowners, and the breaks that first-time homebuyers get when purchasing with programs like FHA.
This was, of course, when rates were higher than today’s crazy-low rates. With low rates right now, and rent prices rising across the country, there’s never been a better time to buy. Especially because…
Interest Rates Are Unpredictable
Rates are low today, but will they be tomorrow? We have been watching the movement of rates daily, and they have stabilized for now. You just can’t count on low rates remaining forever. 10 years ago rates were double what they are currently. You can expect the unexpected. Now is the time to lock in that rate and know what your rate will be for the next 30 years.
If you are ready to buy a new home, lock in your rate by calling us in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 or Nashville at (615) 810-8555. You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. We work hard to make it easy on you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?