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Is Now The Right Time To Buy A House?

August 22, 2020
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While this year has seen its uncertainties, one thing that has held surprisingly steady is the housing market. Sales continue and interest rates remain low. While there are always pros and cons, it seems right now that there are balances in the market that make this a good time to seriously consider purchasing one of those Columbus GA new homes you’ve been considering.

While some people predicted that house prices would drop this year, that hasn’t really happened. They’ve held fairly steady, and in some cases, have risen slightly. While this isn’t always great for buyers, it’s solid for sellers, such as those who have a home they need to sell before buying a new home. If this is you, you currently stand a better chance of getting a good sale price on your existing home, thanks in part to there being fewer homes on the market, while the number of buyers remains strong. You’re liable to sell your existing home faster and at your asking price or higher.

When it comes time to buy your new home, you may think that the higher prices may cause problems for buyers, but this is where the balancing comes in, especially if you’re looking at brand new homes, like the ones we have for offer in multiple excellent communities in Columbus. In fact, we have quite a few available homes ranging from the mid $160s to the mid $300s, providing a great choice of quality homes in a range of prices to help you find your perfect home.

You see, even though some prices may be higher than people had hoped this year, the mortgage interest rates have reached record lows. This helps counter any slight increase in home prices. The current 30-year fixed mortgage rate is hovering below 3.15% as of mid August, and the 15-year fixed rate is around 2.95%. This means you can still probably afford the homes you’ve been looking at, even if their prices are higher than you’d initially wanted. Even if you stick with your initial budget, with these rates, you’ll be paying much less each month, which is a huge comfort and a major reason why people are serious about buying a new home right now.

While experts tend to think the interest rates will remain relatively low, with these kinds of low rates, it’s better to go ahead and lock them in now, rather than hoping they go even lower, especially when they’re already at record lows. Choose one of our Columbus GA new homes that meets your family’s needs, especially with many needs changing a lot these days. We’ll work with you to find just the right home that fits your budget and your lifestyle and you can be confident in having purchased a great home at a smart time.

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This post was written by Grayhawk Homes