There’s always some myths going around about the real estate market. Right now, one of the biggest ones we’re seeing is this myth: You should avoid buying in a seller’s market.
Here’s the truth: if now is a good time for you to buy a home, then buy a home! Instead of focusing on the market in general, you should pay attention to what your unique situation looks like.
For example, if you’re ready to buy a home now but you decide to wait until the market swings into a buyer’s market (which there’s no guarantee that it will!), you’ll be paying your rent money to your landlord each month, never to see that money again.
But if you buy a home now, you’ll be putting that money into your mortgage payment and building equity. Then, when you sell the house down the line, you’ll get your equity back in your pocket.
While the home prices and interest rates reflect the seller’s market that we’re in, the chance to build equity makes buying now a smart choice when compared to paying monthly rent.
