When is the right Time to buy a House?
Is it time to buy a house? Sometimes holding out buy can cost you big bucks. Mike Novak from The Novak Team at eXp on the current market development and common mistakes when trying to figure out the right timing for homeownership.
Is now the right time to buy a house? Sales prices are going up, they have been for some time, so buyers are right to be skeptical.
But, wait, is waiting always right?
One of our clients decided to wait – he was looking at a price range around 400,000 Dollar and wanted to wait until prices went down. Unfortunately, with the market in Snohomish County growing so quickly, the prices didn’t come down. On the contrary, while the family was renting for a year, the house prices went up 10 percent…
This resulted in the house they were looking for costing 440,000 Dollar. While they paid 40,000 Dollar more, the interest rates went up half a point during this time as well.
After all, the family paid 600 Dollars more each month.
When searching for a home it’s important to figure out the right timing! Contact us for a more in-depth consultation!