6 Reasons You Shouldn't Wait to Buy A New Home
November 5, 2022
Some people may tell you to wait to buy a new home. However, now is exactly the right time to buy and here's why:
#1. Limited time financing offers. While interest rates could fluctuate, current offers to decrease your interest rate will likely keep your rate lower than what it would adjust to on its own over the next couple years. This could save you up to $90,000 off your loan. And, you can always refinance without penalty when using the offers from Ideal Homes & Neighborhoods and our preferred lender. View current financing offers.
#2. There's less competition. Because many people accept the myth that homebuying is less active in the winter months, you have more options with fewer competitors vying for desirable new homes. And, if you're concerned about selling your current home right now, ask us about options to trade in your current home.
#3. Online browsing is an indoor activity. Most homebuyers start their searches online. You can sit in front of your warm fire looking at listings and viewing homes, floor plans, and homesites. With online real estate searches and virtual tours, you can narrow down your choices and before you head out to do the physical browsing.
#4. The sooner you start to build, the sooner you reach your move-in date. Maybe you’ve decided to build a new home and would like to move in after your lease is over or before the next school year. With an average 9-month build time for custom homes, you don't want to wait until spring to get started! If you start the process in November you might be able to be in your brand new home by August. If you need something sooner check out the inventory of move-in ready homes that are either under construction or completed, which expedites your move-in date.
#5. Tax refunds are coming. Are you expecting an income tax refund from the IRS? If so, make a smart investment with the funds and buy a new home. Home values are strong and investing in the real estate market while also giving yourself a better lifestyle is a win-win scenario.
#6. Prices and interest rates may go up. As the market changes over time, so are home prices and mortgage rates. The longer you wait, the more you will pay - especially when the financing options are over (see #1). With rising mortgage rates, you’ll also get less home for your money. Ideal Homes currently has 20 new home communities throughout the Oklahoma City Metro, including Edmond, Norman, Moore, Yukon / Mustang, and Choctaw/Harrah. Many of these communities feature quick move-in homes—brand-new homes that are ready and waiting for you. With so many reasons that favor the winter homebuyer, don’t hesitate. Contact us to put this valuable time to work in your favor.