When Should You Buy a Home? See Our Life-Changing Advice!
Do you want to learn the best time to purchase your next home and brag about it for years to all of you friends? Keep reading! We are about to unleash some facts that will change your mind forever about the home buying process.
Are you ready?
OK. The best time to buy a home is when your need/motivation is strong enough! That’s it! That’s the life changing advice about buying a home but let’s dig a little deeper. First of all, residential real estate is not a “time the market” decision. Some positive reasons people buy a home are: Job promotion or relocation, marriage, different school district, growing family and kids, empty nest or retirement, drive to work, recreation areas, privacy and land, hobby pole barn, or desiring a vacation home. Not so nice reasons why people move: job loss, divorce, death, crime, and health issues.
99% of who we help buy a home are folks with motivations from the lists above, and the best time to move is when you have a similar motivating factor. When you realize that motivation and need are the right determining factors for moving, the less you have to worry about economy, interest rates, health care, global warming, the news, and all of the other hundreds of things that want to get in the way of your motivational need/want. Don’t hear me say, do whatever you want, the world is yours, but rather turn down the worldly noise if your motivating factors are real. Consult with a real estate professional, loan officer, financial advisor, and we will help you decide if the timing is right for you!
I will leave you with 2 examples:
Example 1:
Gas prices. Always a hot topic, right? The price is always moving up and down, and we like to complain about it or brag how cheap we found it across town. But in all reality we still buy gas because we need it. Ok Tesla readers, think of groceries. Price go up and down just about weekly, but we still buy groceries because we need them. Think of housing this same way. Buy your next home when you need to and don’t wait for the stars to align in your favor.
Example 2:
Don’t get caught in the rut of saying “When market is more in my favor, I will buy that dream house, cottage, or recreational land!” How often have you heard, “Wow, I remember when I could have bought that for half that price 10 years ago!” Well guess what, someone did. They paid $250,000, it’s now paid off, and it is worth $500,000. They have spent the last 10 years creating memories in that dream home, cottage, or recreational land. Who missed the opportunity? The one who bought it 10 years ago or you who thought it was $30,000 over priced?
BIG disclaimer: don’t JUST hear me say, “Go buy that expensive cottage! You deserve it!” “Go build that million dollar home, so you can create life long memories!” But also hear me say, consult with a professional real estate agent, loan officer, financial advisor to validate your current opportunities and know what is best for you! If you are reading this, we hope you found your real estate team to consult with, and if you haven’t, our team is ready to help you with any real estate needs you have. With over 25 years of experience in West Michigan, we have seen almost every scenario you can think of! Contact us to figure out when is the right time to buy a home for you.
