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The Best Time to Buy a House Is Now

August 10, 2020
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While there has certainly been a fair amount of uncertainty this year, there have been some silver linings, particularly when it comes to buying a new home. People who have been studying the state of the real estate market are seeing a situation that overall leads to now being a surprisingly good time to buy one of our Vancouver WA homes.

In some cases, it depends on if you’re a glass half-full or half-empty kind of person. Home prices have remained fairly steady, even with some increases, which makes some people want to hold out until prices drop. However, there’s no real sense of this happening any time soon, and there are other factors that help negate potentially higher prices. Plus, if you buy now, you have the benefit of having a home that is likely to see an additional increase in value.

The biggest factor at play is the record-low mortgage interest rates. With rates hovering around 3.07% for a fixed 30-year mortgage and even lower for a 15-year rate, that more than makes up for home prices being only slightly higher. With these kinds of mortgage rates, you can potentially afford more home, or take the peace of mind of having lower monthly payments. Regardless, these rates leave you with positive options to consider.

Another factor to keep in mind is the frequent need to sell an existing home before purchasing a new home. With the current seller’s market, homes are moving quickly, due to a relatively low inventory. There’s much less risk of having to pay two mortgages these days, as homes are being snapped up within weeks, and often at excellent prices, further helping you when purchasing your new home. If you’re worried about selling too soon before your new home is ready, we do have a variety of move-in-ready homes waiting for you.

The housing market has so far weathered the storms of the first half of 2020 and is still going strong. Plus, as people spend more time in their homes, they realize what is necessary and what is missing in their current home. With an increasing number of people working from home now, a home design that offers a variety of flexible layouts is ideal. We feature a wide variety of home designs that can be customized to meet your needs, as well as move-in-ready homes that already include flex spaces, such as dens, bonus rooms, extended garages, and more. It’s easy to turn these spaces into home offices, home schools, home gyms, or whatever you find yourself needing these days.

If you’re looking for more from your home to meet your current needs, we have an outstanding selection of Vancouver WA homes from which to choose, all located in excellent communities. Now is an ideal time to purchase, and we’re ready to help you find an ideal home.

 

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This post was written by Pacific Lifestyle Homes

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