Today’s market provides a potentially great opportunity to buy a home. Home ownership can provide many financial, lifestyle and social benefits. In today’s market, buyers also benefit from low mortgage rates, home ownership tax advantages and home prices that are still relatively low in many markets, yet showing signs of stability.
Many home buyers today may be hesitant because of unemployment concerns and other economic concerns, which is completely understandable. That is why consulting with a Real Estate agent is important before deciding to buy. Some headlines are warning against home ownership, and then others are saying it’s a great time to buy. This can make it very difficult to decide and what to believe.
The professionals at my brokerage offer the following advice to help potential first-time home buyers decide if home ownership is right for them right now.
Find a trusted real estate agent: What is happening in one city may be very different from what is happening in other cities across the country. Real Estate is definitely local. A local real estate agent can explain what’s occurring in the housing market in a specific town or city to help buyers make the right decision for where they live or want to live.
Home buying is different for each person: After taking personal financial and lifestyle situations into consideration, the decision to buy a home should be based on what works best for the individual buyer. Some people have strong opinions on both sides of buying or renting. Working with a trusted agent, who has done good research and that has the right tools, will allow potential buyers to make their own smart decision regardless of their decision.