By Mike Laquerre
You’ve seen the articles, “Now is the best time to buy a new home.” Or, “There’s never been a better time to purchase a new home.” Well, I’m here to tell you once and for all, those statements are true. It really has never been, from an historical standpoint, a better time. Low interest rates have prevailed, continuing to give buyers the incentive to move forward. Over the years, banks have also loosened their lending criteria somewhat, boosting the amount of those looking to make the leap toward homeownership as well. Not to mention, the rental market has undoubtedly soared in the past few years, driving more people to consider new homes.
Why rent, when you can own, right?
With the Great Recession in our rear-view mirror, we’re witnessing those that had once suffered a real estate loss, suddenly back in the market with a vengeance, plunging ahead to take full advantage of the current market situation before it’s too late again. Renting is no longer a viable option for them.
But that window of opportunity is fading quickly. Interest rates will not stay low forever. Eventually, they will trend upward again, settling to what economists deem to be “normal” conditions. For some, the slightest uptick could price them right out, and into that great pit of despair we call ARI or Annual Rental Increases. For others, that might mean the difference between purchasing a home with more space rather than being confined to something less desirable.
Purchasing a new home is exhilarating. Who doesn’t like to choose their own home site? Who doesn’t like to be given the opportunity to choose their own style and colors? Who doesn’t like a peace of mind home warranty, so that if something should go wrong, the buyer is protected? Who doesn’t want to lock into a low interest rate? Who doesn’t want to benefit from the tax incentives awarded to homeowners? Trying to convince someone that renting is a sensible solution versus homeownership makes for a foolish argument.
With all the different loan programs that exist today, a buyer does not require a lot of money in order to purchase a new home. For instance, certain buyers can take advantage of no-money down programs such as USDA or NACA, and Adams Homes will even assist their buyers with Closing Costs when they utilize their Preferred Lender network.
So the next time you come across an article or headline that spouts, “Low Rates Spur Home Buying”, consider the reasons above. “There are no second acts,” as F. Scott Fitzgerald once put it, and nothing could be truer of the housing market. If we do not take advantage of the gift the market has put in front of us, we may never realize this opportunity again in our lifetime.
Check out these other related articles:
“5 Tips for First-Time Homebuyers”
About Adams Homes:
Founded in 1991, Adams Homes is known as the premier home builder and is one of the largest privately-held home building companies in the southeast. Adams Homes has built more than 40,000 new homes since 1991 and builds in seven states including new homes for sale in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, and Tennessee with corporate headquarters in Gulf Breeze, Florida.
Discover all Adams Homes’ communities, model homes and homes for sale on our website, www.AdamsHomes.com. We have new homes for sale perfect for the first-time buyer, move-up home buyer, who desires to upgrade to a more accommodating new home, and the empty nester who desires to downsize to a smaller home.
While you’re at our website, explore our mortgage calculator and obtain financing information.