Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are 3 major reasons to buy now.
1. Affordability
Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by 3 components PRICE, WAGES, AND MORTGAGE INTEREST RATES
2.Mortgage Interest Rates
The mortgage rates have dropped almost a full point after heading toward 5% last fall and early winter. Currently, they are below 4%
3. Increase Family Wealth
Homeownership has always been recognized as a sensational way to build long term wealth. The longer you delay purchasing a home, the longer you are waiting to put the power of home equity to work for you