Here are 3 questions to consider if buying is on your mind, but you’re just not sure about the timing
1. Should I hold out for even lower mortgage rates?
You could wait for rates to keep coming down, but a lot of other people will too. Waiting means you’ll have to compete with other buyers to find your next home, and other prices.
A further drop in mortgage rates could bring a surge in demand that makes it tougher to actually buy a house.
2. Is it better to wait until after the election?
History shows that home prices typically go up the year after a Presidential election, so moving now may be a better bet.
3. Do I plan to live there for a while?
Buying a home can be a great long-term investment. If you want to put down roots, buying now allows you to start building equity.
The average homeowner gained about $25,000 in equity over the past year.