Is Now A Good Time To Buy A House?
Mortgage rates have been somewhat unpredictable lately leaving many to wonder about putting real estate plans on hold or to move ahead with purchasing a new home. The reality is that interest rates are still close to historic lows, and the benefits of homeownership, as you might have already guessed, are undeniable. Here are three of our top reasons why now is a great time to buy:
3 Reasons Why You Should Buy a Home in 2023REASON #1: Affordability
Home prices have stabilized, and mortgage rates have come down! (Even though they are higher than they have been in the last few years, rates are still historically low.) Now is the perfect time to think about locking in your new home. Then, when rates come down, you can refinance at a lower rate.
FACT: Mortgage rates were 6.09% for the week ending February 3, down from the previous week’s 6.13%, according to Freddie Mac.
REASON #2: Benefits of New Construction Homes & Homeownership
While the decision to buy a home takes a lot of thought and planning, the benefits of owning a new construction home outweigh any doubts.
- Building equity. When you purchase a home and make monthly payments you build equity. The value of your home may also increase over time, so you can make a profit when you sell.
- Tax benefits. Homeowners can deduct mortgage interest payments and eligible expenses.
- Peace of mind. An Ernest home comes with energy-efficiency & brand new everything. You have the protection of new home warranties and the comfort of an expertly built home.
- Convenience. Our available homes are sparkling new and just waiting for you!
- Long-term stability. When you rent, your monthly payment may increase after your lease expires. When you own your home, your payments will stay the same year after year.
- Financially smart. When you rent, you are paying your landlord's mortgage and building their equity and credit. When you own, you are building good credit for yourself.
- Control. When you rent, you are at the mercy of your landlord. When you own your home, you can make your own rules! Plus, you can design your space and choose exactly what YOU want.
REASON #3: Our Process
Buying a new home with Ernest Homes is an easy and delightful process! We have many homes available in a variety of stages – some already in process or close to completion – that finding the home you want is a breeze. No matter which home you choose, you’ll enjoy the freedom of creating a space that reflects your lifestyle and taste.
Connect With Ernest Homes For Your New HomeBecause of the unpredictable nature of the real estate market, the best time to buy is when you are ready. If you are ready to make a move and purchase a home now, with the financial means to do so, then there is no question that it is a great time to buy. Interest rates, as previously mentioned, are still at historic lows, which means you may be able to afford to make your move! (And there is no guarantee that tomorrow, next month, or next year will be a better time to buy than today.)
If you are ready to buy, we are ready to build! Contact us today to learn more about our process and move into the home of your dreams sooner than you ever expected.
