Recently we went over a few smart tips for selling and listing your home, and that will tie directly into today’s topic – buying your dream home. When it comes to homeownership, many people take their time, looking at houses of all different shapes and sizes before settling. In many cases – especially when it is your first home purchase – it is tempting to settle on a house that does not necessarily meet all of your requirements. However, we are here to tell you that it is ok not to settle and that you should upgrade to your dream home – today. In fact, spring is a wonderful time of year to take the plunge and find the home you’ve always wanted. There are numerous reasons why spring is the time of year to upgrade to your dream home, a few of which we will go over below.
Before we get into all that, let’s talk about the elephant in the room: budget. The one thing that stops many from even considering purchasing their dream home is money. Money. We all need it in order to survive in this world and live comfortably, but what does this mean for you? Prior to stepping out and starting to look for houses, it is a good idea to sit down and go over your finances. By taking the time to look at your money situation and determine how much you can realistically afford in regards to buying a home, you will be in much better shape. Also keep in mind that not everyone’s dream home is a huge mansion on a golf course. There are many other options that could more than meet your demands when it comes to the home of your dreams. From a condo or a townhome to an older home or a “fixer upper” that you can put your own touches on, don’t let yourself get too tied to the notion of a dream home.
Now, let’s look at a few reasons why this spring may be the perfect time for you to upgrade to the home of your dreams:
- The Market is Hot
Spring is notoriously the time of year when people pound the pavement looking for a home to purchase, and this year is no different. In fact, statistics indicate that buyer demand is higher than it has been in years. Furthermore, demand in numerous markets across the nation (including North Texas!) is much higher than the supply, which is where all the new construction is coming into play.
- Prices Aren’t Getting Any Lower
Due in large part to the growing demand and the fact that more and more people are buying homes these days (ahem, Millennials), it’s safe to say that home prices aren’t going to get any lower. In fact, recent studies indicate that prices will probably rise in the coming year. A report released by Home Price Index shows that national home values will likely appreciate by 5.3% by May of next year. If you remember, we discussed this very point earlier this week.
- Interest Rates Are Still Low
Finally, now is the time to upgrade to your dream home because of the ever-attractive low interest rates. As you may or may not know, interest rates have been below 4% for quite awhile now, but don’t expect that to last forever. When the rate eventually does go up, so will your monthly payment, which will make owning your dream home all the more difficult.
The bottomline? Don’t keep putting off purchasing your dream home until a later point in your life. Spring is the perfect time of year to take the plunge and finally find the Frisco home you’ve always wanted. To learn all about our listings in the area, please contact The Cheney Group today.