Everyday it seems a prophetic journalist in some part of the country tries to scare people into believing that now is not a good time to buy a new home (or an exiting one).
People are told to wait until prices bottom out before buying – as if that were some definitive moment in time that everyone will recognize – like the first snowfall of the season or something.
The truth is that if someone really wants to buy a new or different home now because they’ve never owned one before or they need something different than they have (larger, smaller, less maintenance, larger homesite, more security, more convenient location, recreational amenities, lifestyle, better chance of appreciation, stronger investment, layout or floor plan, design, something newer, more storage, or dozens of other reasons), then they should go ahead and purchase.
Not much in life is certain. Prices could continue to drop in some markets, on some properties. But then again they could start inching up as they are doing in some markets. Either way, a delayed decision means the possibly of less choice.
The point is simple. Prices have adjusted in many markets. Why not take advantage of them while you can – that is if you really want a new home?
The selection – particularly in new homes – is fantastic. This applies to completed homes and homesites for to-be-built homes. It will never be any better than it is right now in the locations where builders currently have homes or homesites available.
The cost of building materials and labor is much lower today than it has been in recent years, but as demand increases both may see rapid increases as well.
Don’t believe everything you read – except here. Now is an exceptional time to buy a new home!
* For more information about my consulting and coaching services visit my website stevehoffacker.com.
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