Is Now The Right Time To Buy?October 25th, 2022 | by Tia Lloyd | Posted in Uncategorized
When buying a home in this market it’s hard to say when is the right time. Will interest rates drop? Will home prices be higher in 6 months? It’s not something anyone can fully determine, but the good news is you can always refinance in the future to get a better interest rate!
On the contrary, the thing you can’t change is your purchase price. Once you borrow $500k, that’s what you owe back regardless of the interest rate. However, if you buy a house at 7% today, either interest rates go up to 12% and you’re happy you got in when you did, or rates go down and you refinance and get your rate back down to 3%.
If you are confident in the purchase price of your home and the interest rate makes you a little nervous but is manageable, make the investment! You can always change your interest rate, but you can’t change your purchase price.
Contact our sales team to learn more about building your dream home while the price is right!