When is a Good Time to Buy a House?
September 1, 2017
The short answer to this question is now! Just kidding, there’s no real answer to this question as everyone’s circumstances/expectations/finances/life are all different and purchasing a home could have varying consequences on all those things. Of course the assumption of Real Estate agents, stereotypically, is that we will always say buy now interest rates are going up and so are prices. Which in our current market is partially true, as with all posts for this blog I’ll be strictly addressing the Denver Metro market. However if you are a cash buyer interest rates are irrelevant or if you’re an investor you may be more concerned on how much the property will rent for or sell for if you flip the property(fix, update and upgrade for profit) and most likely you are ready to buy whenever.
If you are the average buyer who must obtain a mortgage there are going to be a lot of different factors to take into account on when you should purchase home. Do you qualify for a mortgage, are you locked into a lease, are you moving from out of state, are you planning on having kids in the future and so many other factors. This blog post could go on endlessly if I were to even attempt to address multiple scenarios. In the end the best time to buy is the time when you feel the most comfortable buying, it is not a matter of is this going to be the least/most expensive time to buy? Will prices go up/down? or will interest rates go up/down anytime soon? Most of these questions can only be at best, predicted and not controlled at all by you or your Realtor. The number one thing someone can control is their own life and therefore you should only purchase a home when the time is right for you!
Please feel free to contact me with any questions or inquiries you may have.