As your local real estate team, we know that the winter holiday season is upon us, and you’ve got a lot on your plate! But if you’d like to buy a home now, or sometime soon, we are here to let you know that now is an excellent time to buy. Becoming a homeowner for the first time, or purchasing your dream home in Houston, would be an excellent holiday gift to yourself, don’t you think?
Allow us to help you understand why now is such a great time for you to buy:
- Prices will continue to rise. Nationally, home prices have already increased by 6.3 percent in the last 12 months. The same Home Price Index report predicts that prices will increase another 5.2 percent over the next year. If that is the case, then the sooner you buy a home, the more you’ll save on the home price!
- Mortgage rates are also rising. We’ve been saying for months now that mortgage rates will rise. They finally did! They are now around 4.13 percent, after staying below or at 4 percent for a long time. While they aren’t at a historic low anymore, they are still low, and they are expected to continue to increase. So the sooner you buy, the more you’ll save on monthly mortgage payments as well!
- Now is not the time to rent. If you want to buy your first home, now is the time to switch to homeownership. When you buy with a fixed-rate mortgage, you lock in the mortgage payment price you will pay each month. With rent, the price can continue to increase, and it is expected to! Rent prices have risen exponentially since the 1980’s, with no end in sight.
- You’re paying a mortgage either way. Whether you rent or own, you are paying a mortgage. Either you’re paying your landlords, or you’re paying your own. If you pay your landlord’s, you’ll never see that money again. If you pay your own, you’ll get that money back when you sell, and maybe even more of it! You are investing in your future.
- It’s time to move on. If you want to buy a home, it’s probably because it’s time for you to move onto bigger and better things. Either you’re ready to stop throwing your money away on rent every month, or you’re looking to relocate, or you want to move out of a starter home and into your dream home, or you want to downsize. No matter what your reason, we are here to help!
The weather is beautiful year-round in Houston, so why not buy during the winter season? Whether you do so before or after the holidays, we are here and ready to help! Let us help you accomplish your home-buying goals in the Houston real estate market.