Business-Real Estate10 Comments

In the United States, the homeownership rate has been declining since 2004. This has led to a shift in mindset that renting is better than buying a home. Right now, you may be contemplating, Should I rent or buy a house?

These days, rental rates are also constantly rising, so it seems like renting is not always the best option.

Nonetheless, there are still advantages to owning a home. For example, people who own homes have more net worth and can offer lower interest rates on their mortgages compared to those who rent. However, if you’re planning to buy a home soon, you might want to consider renting first because prices will continue to climb as demand increases.
There are definitely better times to buy a home than others.

Below are the best times to pull the trigger on buying a home.

When You Have Enough Saved for Good Down Payment


Nowadays, there are so many home buying options out there. Why should you buy a house?
You might be wondering if it is worth it to make the largest purchase of your life at the moment when you only have a small amount saved for a down payment.

Sometimes, buying a home can make sense even if you don’t have enough saved up for the down payment. However, it will help to wait until you have more savings available before making any move to buy that home.
With the help of your financial planner, you can make sure that it is a good decision for you.
They will be able to tell you based on your current situation if the decision makes sense for you.
It could be hard to figure out on your own.


Late Summer or Early Fall


It is a great time to buy a home in the late summer or early fall. This is because there are fewer people looking for homes in this period. There are also fewer listings, but that is ok since the competition is low.

Moreover, unlike the springtime when it’s prime season, the fall is considered a slow season for real estate. So, if you want to get a great deal on your home purchase during this period, you should not hesitate to make an offer.
Buyers should also be aware that there may be less inventory of luxury homes in fall than spring due to their popularity and high demand because of the upcoming holiday season, but this is just one consideration that buyers should take into account when deciding if this time is right for them or not

You Have Stable Employment


As the economy gets better, it is more likely that people are looking to buy a home. However, it is important for people to remember that buying a home is not always the best financial decision.
The key to success in buying a home is having stable employment. Without stable employment, homeowners have higher chances of defaulting on their mortgage payments.

This can be risky for homeowners looking to buy more expensive homes with high interest rates, which are usually not sold during economic downturns.

A few other variables that can affect whether or not you should buy a house include the geographic location of the property and your personal income tax rate.

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10 Comments

  • Nwosu Lucky May 28, 2018

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  • Odediji yomi stephen July 21, 2020

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