Jackie Schoelerman | March 10, 2022
Buyer
Are you thinking of buying a home? If so, this spring is a great time to make your purchase. Here are the top motivators this season that should encourage you to start the homebuying process sooner rather than later.
Homeownership is the American dream – not just because it has tangible financial benefits, but because it also has the power to change lives.
The security, stability, and success homeowners feel have far-reaching impacts, especially in a time like this. Over the past two years, the health crisis has made having a safe space to call home more important than ever before. If the pandemic has changed what you’re looking for, homeownership may be able to deliver the perks you want, financially and emotionally.
With more active buyers in the market than there are houses for sale, the homebuying process may take more time and effort than usual. But the good news is, spring is typically a highly active season in the real estate market when more sellers list their houses.
If you begin your search now and work with a trusted real estate advisor, you’ll be in a great spot to benefit from those additional options when your dream home hits the market.
Last year, the housing market saw a sharp increase in home price appreciation due to the imbalance of supply and demand. While competitive buyers are expected to keep home prices climbing, industry leaders say the pace of appreciation should be milder in 2022. And as this year kicked off, so did a rise in both inflation and mortgage rates. With expert projections indicating prices and mortgage rates will keep rising this year, this means it will cost more to buy a home if you wait.
While everyone moves through the homebuying process at a different pace, it’s more important than ever to put your plans in place and begin working with a real estate advisor. If you’re thinking about buying a home over the next year or two, purchasing sooner rather than later may be your most affordable option.
Mortgage rates and home prices aren’t the only things on the rise either. Census data also shows the median monthly rent continues to go up year after year (see chart below). To escape rising rents, consider purchasing a home so you can lock in your monthly mortgage payment and avoid future increases. Even though the number of homes available for sale is low, homeownership is a much more stable long-term investment. The search is worthwhile, and the purchase will help grow your net worth as home values appreciate.
Stay up to date on the latest real estate trends.
January 15, 2025
January 14, 2025
We’re officially in the winter stretch, and in many parts of the country, temperatures have plunged—leaving many homeowners struggling with how to beat the chill.
January 14, 2025
A cup of coffee is the quintessential staple of a morning routine—at least in the U.S.
January 14, 2025
Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner?
January 13, 2025
As harrowing and out-of-touch as show business can be, celebrities’ most-relatable sides are exposed in the bonds they share with their pets.
January 13, 2025
Ferguson Partners, the Chicago-based talent management and strategic advisory firm for the real estate sector, announced the results of its first Artificial Intelligen… Read more
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today