The housing market has been in an uproar for the last couple of years, and many have taken this as a sign that they shouldn’t buy now and should wait. Don’t let any of this scare you off! Instead, consider all of the perks that could come from landing a property now.
These are the top reasons why now is an awesome time to buy a new home and what you should look for when you’re shopping.
More Updates and Amenities
Many buyers are extremely motivated to sell as soon as possible, so you’ll see updates throughout properties that show you they’ve put in their money and time onto every property you look at. This can be updates like new vinyl kitchen flooring or a freshly built deck in the back.
Because of this: you have the chance to be picky about what amenities you’re looking for. Most buyers are looking for houses with a smart thermostat, increased security through things like a camera doorbell and exterior lights, and other items that make life easier to live.
Consider what updates and amenities matter most to you when you hit the housing market.
The Value of Homes Keeps Rising
Many think that they shouldn’t buy a home because the value of houses has already risen so much, but this is an awesome reason why now is the perfect time to buy a home. Home prices are projected to continue to rise through 2022 and 2023. This opens the door to you buying a home now that will eventually double in price within the next ten to twenty years in the same way that homes grew from 2012 to 2022. Homes will always eventually grow in value, so it’s a good idea to get one sooner rather than later.
Increased Financial Security
Your financial security is important, especially in the rapidly changing landscape of modern America. Owning a home gives you something that you can count on as a sign of your value and worth so that you don’t have to worry about ever truly going broke. If you need money, you can take out a loan on it or even sell it, which gives you a nest egg you can cash out on whenever you want.
It’s important that you remember, of course, that every investment is a risk! If you buy your home, and five years down the line, property prices start dropping and scare you: don’t sell just to beat the drop. Instead, hold onto your home until it regains value and you can sell for a more worthy price. Although the market can be scary, it always ends up growing.
The Ability to Build Something for Yourself
If you’re deciding whether or not to buy a house, consider how much owning your own property can give you the chance to build something for yourself. No worrying about deposits and not hanging things up; you can create the home of your dreams and have complete freedom to change and paint, renovate, and update anything you see fit.
This amount of freedom is something everyone should experience since it gives you the chance to fully feel like you own your property.
A Great Time to Own Income Properties
Income properties are something that comes up every couple of years in the public conversation, yet many don’t realize how valuable they can be. If you own the right properties in the right areas, your rent payments can cover the mortgage entirely, and eventually, the home will pay for itself.
This is awesome because when you’re ready to sell, you’ll gain hundreds of thousands of dollars that you never had to pay into. It’s important that if you do this, and you want to get the most out of your investment, that you update with things like fiber cement board and batten siding that will allow renters to feel at home on your property.
Chance to Gain Community
Although this is a perk many overlook when buying property: when you move into a new area, you have the chance to build a community for yourself. Of course, not every neighbor is going to be friendly, but creating a community for yourself ensures that you’ll have support in the form of other people looking out for your property and the chance to feel closer to others when we live in a digital age that separates so many people.
This is especially important for anyone raising a family who wants to give their kids the best chance at success and friendship.
There’s No Better Time to Buy a Home
Although many may fear the market and look at the increased fervor for the homes that are available as a sign that it’s not the right time: home prices are going to continue to rise, and you’re missing out on income in the meanwhile. Now is an awesome time to make this investment.
Andrea Erickson is a contributor to Innovative Building Materials. She is a blogger and content writer for the real estate industry. Andrea is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes.