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Best Time to Buy

“Mortgage applications growing thicker with ‘explosion of disclosures.'”  “Affordability to worsen, but mortgages will be easier to get in 2014.”  “Housing market reports reveal a mixed bag of results.”  The real-estate articles and advice columns can be overwhelming.  With all the real estate market conditions information floating around in the media, online, and being delivered daily to your front door, how is the average consumer supposed to know when is the best time to buy a home?  You’re not.Buying Real Estate - Jean Ward - Chicagolakecondos

So when is the best time to buy a home?  It’s an easy answer, one that you already know.  The time is dependent on you, not the external forces that affect the real estate market, such as interest rates and home inventory.  The best time to buy a home is when you want or need to do so, as your internal barometer far trumps the minutia of real estate factors. 

Maybe a life change, such as marriage, divorce, birth, death, or relocation, to name a few, has changed your focus on housing.  It’s possible your financial status has recently been altered, or you just decided you’re tired of living under someone else’s rules or paying someone else’s mortgage instead of your own by renting.  The multitudes of factors that affect the timing of when or why people buy homes are too many to list.  It’s your story, though, so decide when the time is right for you. 

The mortgage rates, the sales prices, the inventory, all of it, will fluctuate from day to day, month to month, year to year, and market to market.  A high interest rate today can be adjusted or refinanced into a lower rate at a later date.  Low sales prices today can skyrocket by year’s end.  Unless you simply can’t find the home that you want at the time you want to purchase due to low inventory, the number of properties sitting on the market only affects you if you feel as if you have to get a “deal” in order to be happy, and if inventory is low, you’ll most likely pay closer to asking price than if inventory is high.  So, as long as you‘re comfortable paying for the actual worth of the home, it’s a no-brainer. 

Don’t sit around and wait for the right local real estate climate to present itself before buying a home.  There’s no need to buy into the hype of the industry.  If “Now is the Time to Buy” actually rings true for your personal edict, then by all means do it.  If the timing’s not right, don’t feel pressured to take advantage of a supposed good thing.  Determine when you want to buy a home, and there will always be a way to work within the confines of the outside factors that affect your purchase.  If now if that time, Contact Me and I’ll help you negotiate the minutia.

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