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It's the million-dollar question: When is the right time to buy? 

The answer: The right time to buy is when it is right for you.

There's no magic 8 ball or crystal ball to tell you when it is right.  Did you know, slot machines are computerized, and the exact millisecond that you hit the 'spin' button is when that machine decides if you're going to win on that spin? It's called gambling for a reason. 

Buying a house shouldn't be a gamble. And historically, it's not. Did you know there has never been a 10-year time when a home's value didn't increase?  Proof again that buying a house isn't a gamble, it's an investment. One that has historically yielded great returns. 

Don't wait for mortgage rates to fall to a certain number. What if they don't fall? You've heard the old saying, "Marry the house, date the rate." The point is to find your house and buy it; then, when rates fall down the road, you can refinance. You only have ONE shot at getting the price right on the house you buy, but you have 30 years to work on your mortgage rate. And once again, historically, home prices continue to go up. Did you know January and February are the most affordable months to buy a home? For the last 35 years, home prices have been the lowest in January and February. Here are a few reasons home prices continue to go up:

          -Approximately 9 million 24-35-year-olds live with their parents, inlaws, friends, or roommates and plan to buy a house. As those buyers enter the market, higher demand and increased home prices follow.

          -There are 95 million homes in the USA, but we need 100 million to supply the current demand. When there is a shortage of homes, we once again see more competition, which drives home prices up.  

          -Societal changes have created higher home prices. Thirty years ago, many homes had one adult working outside the home earning an income while the other worked in the home taking care of the family. Presently, many homes have both adults working outside the home, creating more income in the home. This increases home prices because they can afford a more expensive house. We don't have to like it, that's just the truth of how things are going. 

So again, when is the right time to buy? When it is right for you. Only you are living in your set of circumstances. Your income, family size, current home size versus future needs, location to your job, to schools, etc, all determine when you need to buy. When you are ready, give me a call! Let's make your home dreams come true! 

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Bradley Edge-RE/MAX Advanced

903.348.0058

bradleyedge@remax.net