We had a great presentation in our sales meeting this morning about the benefits of buying a house now - as opposed to when the market bottoms and starts rising. Many people are waiting to purchase a property once the market hits the bottom. The problem is, when will we know when it hits the bottom? The bottom of any market is not an absolute position, but a relative position to a rising market. Because of this relative nature, the bottom of a market can only be determined in hindsight. Therefore, one cannot knowingly purchase at the bottom. So then the obvious questions is "Should I buy before or after the bottom?" Purchasing after the bottom carries the benefit of immediate appreciation, but it also brings the risk of higher interest rates, fewer homes available and multiple offer competition.
Here are the key benefits to buying before the market bottoms:
1. Lower Interest Rates - They will rise when the market starts rising
2. More Inventory - In a rising market you choices are fewer
3. Relaxed Pace - A rising market brings buyer competition and multiple offers
4. Time in Home - By buying NOW you can ENJOY the home
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment