The answer to that question is now. We are in a buyer’s market. Despite high interest rates, history has taught us that if you can afford it, now is the best time to invest in a home than at any other point in our lives. Savvy investors will tell you the secret to success is to buy low and sell high. When the market turns around, you want to be buckled up and ready to ride your home equity elevator back to the top. You can always renew your mortgage when the rates drop, so don’t let that stop you. I have trouble finding people that have lost money in a home after owning it for over ten years. The value of a home over time will always outperform interest rates. So, if you’re on the fence about buying a home, jump off and do it now. You’ll be glad you did when you’re sitting on top of a pile of cash years down the road.
What time of year is cheapest to buy a house?
If you’re looking to buy a house, you might be wondering what the best time of year is to get the best deal. Many people believe that the fall is the best time to buy when prices are typically lower than in the spring. However, there is one time of year when prices are even lower, and properties take longer to sell: January. Not many buyers want to brave the cold to shop for a home, so there is less competition driving up prices. This means that sellers are more likely to accept a lower offer. So, if you’re considering buying a house, January may be the best time to make an offer.
Remember The Madness of 2021?
That was not the best time to buy a house, so consider yourself lucky. It wasn’t long ago that consumers were paying anywhere from 50 to 100,000 over asking for real estate, and even with that, you could not do any inspection or add any clauses. The person with the highest bid and the deepest pockets got the house. People were buying houses but weren’t sure what the house would reveal after the purchase. Now that’s crazy, but it happened, and it’ll happen again when we re-enter back into a seller’s market.