If you’re thinking of buying a home, there are three main factors to consider before deciding whether you should buy now or wait.
The first is your financial situation. Ask yourself: Are you in a position to make this move? Whether you’ve never bought a home before or you’re an experienced homebuyer, the best way to start the process is by talking to a trusted advisor or real estate agent.
The benefit of speaking with a real estate agent is they’re a licensed fiduciary, meaning they have to do what’s in your best interest—not theirs. If they know the market and have been in the business for a while, they’ll guide you accordingly.
The second factor is your timeline horizon. Are you looking to move within the next month, six months, or 12 months? If it’s within the next month, go talk to a real estate professional as soon as you can. If your timeline horizon is six to 12 months, you have more time to determine whether your finances are in order.
The last factor is the one thing you don’t have control over: interest rates. Rates are significantly low right now, so it might not be a bad idea to consider buying soon.
If you’d like to talk more about whether now’s the time for you to buy or you have any other real estate questions, don’t hesitate to reach out to me. I’d love to help you.