Why Now Is the Perfect Time To Buy a Home or an Investment Property

Jeff Lang May 14, 2023

There are many reasons why you should buy a home soon in this market.
Are you thinking about buying a home? According to the National Association of REALTORS® almost 90% of homebuyers believe that owning a home is a great investment. Not only is it a lifestyle choice, but it’s also an investment decision. Today, I will discuss why now may be an ideal time to purchase a primary home or an investment property.
When people purchase a home, they often do so for lifestyle reasons, such as wanting to settle into a community. However, they often forget to factor in appreciation, which historically averages around 4%. Gaining equity in the property, as well as potential tax savings, are critical factors that homebuyers should consider when analyzing whether to buy or rent.
“Prices have come down, but rents are starting to rise.”
In the current market, it’s essential to consider the interest rates, as they have been widely discussed in the news. Although interest rates may be higher than they were a year ago, many properties in the Bay Area and other areas in the country have come down in price by 10% to 20%, providing buyers with an opportunity to purchase at a discount.
While it’s true that buyers will pay higher interest rates initially, they may be able to refinance in the near future, and there are also options like rate buydowns that allow for lower monthly payments for the first two years of the loan.
For investors, prices have also come down, but rents are starting to rise, making it a great opportunity to invest in properties locally or elsewhere in the country. Real estate agents can help you find the best investment properties, and you can start building your portfolio.
If you have any questions, contact me by phone or email to discuss your options and start building your portfolio.

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If you're looking for a reliable real estate advisor in California, consider contacting Jeff Lang. He offers a free consultation to discuss your real estate goals and help you achieve them using his vast experience in the field.