Top Reasons You Should Not Wait to Buy a Home
Homeownership in Idaho is still one of the best long-term investments for individual households. What buyers need to realize is that housing markets, like all markets, inevitably have their ups and downs. And homeownership has a track record that is virtually unmatched by any other purchase in terms of its real benefits.
Homes are an unbeatable investment.
Even in down markets, over the long term, home prices still appreciate more than the stock market. Over the long term, real estate has consistently appreciated, even through periodic adjustments in local markets in response to economic conditions. On a national level, home appreciation has historically increased by 5 to 6 percent annually. If you put 10% down, that's a 50% to 60% annual return.
Sellers are getting more motivated
It was hard to beat a 3% interest rate, even if prices have come down 9% from September 2022. If you are a seller, you probably realize that you missed selling at the top of the market and buying at the top of the market. As sellers watch their Days on Market increase, many realize they need to lower the price if they are going to attract a buyer. Many of them are not only lowering the price but also offer 2/1 buy-down which helps a buyer get a lower interest rate for some time. If you are not familiar with interest rate buy-downs, talk to us about how this can be an effective way to get a better monthly payment for now and strategize on how to redo the mortgage when interest rates drop.
Builders and Developers are Motivated.
There are many homes on the market; plus, for the first time in years, some reasonably priced building lots.
Energy Efficient Homes
New homes have the latest environmentally-friendly, cost-saving, advanced technology materials and appliances. The cost savings on your energy bills could make up a portion of your new monthly payment. Search Energy Efficient Homes for Sale.
IT’S YOUR HOME. It’s more than a house—it’s a place to raise your family, make memories and call your own.