Have you been weighing your options and considering whether it’s time to buy a house? We are here to tell you that the answer is a big, resounding yes! Now is the time to look into buying a new home.
If this will be your first purchase or you’re hearing how competitive the market is, it’s reasonable that you might be intimidated at the idea. Don’t worry; there are many great reasons to begin house hunting.
There are a variety of reasons why 2022 is the year to buy one of the homes for sale in DeBary, FL. Some of these are unique to the new year and our current housing market, while others are evergreen reasons that are always applicable to shopping for a new house.
If you’re considering whether you’re ready to begin searching for homes for sale in DeBary, FL, you’ll want to keep in mind the following:
Rates are still historically low. Wells Fargo is offering 2.875% on a 30-year mortgage, and NerdWallet says the national average is around 2.838%. In 1981 that figure was 18%! Only 20 years ago it was around 7%. What exactly does this mean you for? If you purchase a home right now, you will be paying less to borrow more money.
It is important to keep in mind that no one expects rates to stay this low forever. In fact, forecasters are making their best predictions as we speak and many expect a hike over the next 12 months. Your interest rate will be higher if you wait any longer, and so will the actual purchase price of the house itself. This brings us to our next point…
Buying a house right now is probably going to be much more affordable than buying one of the homes for sale in DeBary, FL this summer or next year. No one can say for sure what the future holds, but the desirability for people to be here in Florida is higher than ever before. It has remained consistently strong and is only gaining strength, so this hot market is not going away anytime soon. In fact, it is estimated that 850 people will move to Florida per day over the next five years. That’s hundreds and hundreds of new homes needed every single day. Home prices will keep going up as more and more people move here.
Whether it is 2022 or 1982, owning your home is better than renting someone else’s home. This has been true in the past and will continue to be true in the future. When you are renting a house or apartment, you’re building someone else’s wealth. Your monthly rent payment goes to your landlord’s mortgage and you reap no benefits from it. It also depends on rising rent rates, which are going up as we speak.
When you own a house, you’re building your own wealth. Your monthly payment is locked in, and you benefit from appreciation. As homes get more expensive, your wealth will automatically grow!
Buying a house is a good idea, and buying a new home in Rivington is an even better idea! The more you know about why you should buy a home, the less scary the entire process will be. That is why we encourage you to reach out to us to learn more about your options for both single-family homes and townhouses in Rivington. We’ll show you how beautiful, convenient, and safe it is to live in Rivington. We are more than just a neighborhood; we’re a community!