Three Perks to Buying Your Dream Home THIS Year!

Have you ever heard the ole saying "If you wait until the perfect time, it'll never happen."?
Finding the right time to buy a home is a challenge that requires extensive amounts of homework, a lot of professional knowledge and support from your realtor and lender, and a bit of luck. While timing the purchase perfectly might be desirable, the truth is the right time is your decision. As we embark on the new year, you may be wondering if now is the right time to buy your dream home. With a strong economy, low unemployment and higher household income, there are three great reasons why you should consider buying that dream home this year.

1. A Home is a Great Investment–Real estate remains one of the best investments one can have. Based on hard assets, real estate tends to weather the ups and downs long term better than other investment tools, such as stocks or bonds.

2. Mortgage Interest Rates are Low–Interest rates have fallen over the past year from 5% in November of 2018 and Freddie Mac expects them to level at an average of 3.8% in 2020. This extra purchasing power is important when buying your dream home and this is a good time to lock in that rate for the next 30 years.

3. Hedge Against Inflation–Rental costs continue to rise and as the economy heats up, inflation becomes more of a possibility. A fixed 30-year mortgage freezes your housing costs and works as a buffer from inflation which is impacting the rental market.