Is Now the Right Time to Buy a House?

With mortgage rates still low, you may be thinking about beginning the house hunt…but is now the right time to buy a home? Read on for more information and steps you can take to prepare yourself to enter the real estate market and determine if now is your time to buy.

Determine your goals.

Maybe a fixer-upper is on your wish list, or a sweet single-level ranch near your favorite local haunts – if you have key things that you are looking for, it is important to start a list! Determine which items are non-negotiable to you and which are important but not essential, and begin to create a plan of action.

Once you have a clear idea of what you are looking for, you can begin to take additional steps to better prepare yourself.

Prepare financially.

As you ready yourself for purchasing a home, it is important to prepare yourself financially – not only for a down payment and mortgage, but for potential monthly cost increases, as well as unforeseen circumstances. Working with a financial planner can help you to determine where to focus financially – whether you are working on paying off existing debts or improving your credit score in order to qualify for a home loan – and can also help to give you an idea of how much to begin saving.

Adjusting your household budget can also help you to save for your down payment and other future costs – you can start small by cutting back on eating out or even just biking to work when possible!

Work with a team of trusted professionals.

Working with the right Buyer’s Agent and loan professionals can do wonders for helping you prepare and understand the purchase process, what you are able to comfortably afford, and when it may be an ideal time for you to begin looking for a home.

Not sure who to contact first? Give us a call! We are more than happy to work with you and provide you with you to help you understand the greater Portland area real estate market, as well as refer mortgage and other industry professionals who can also help to make your goals into a reality.

Is there really a “right” time to buy?

While there may be seasonal trends in real estate – with fall/winter often seeing price reductions and decreased competition, and spring/summer seeing increased inventory and housing options – as well as changes in interest rates over time, when it comes to determining the best time to purchase a home, the most important factor is you!

Beginning your house hunt before you are truly prepared to do so can cause extra stress and strain – and we want this to be a fun and exciting time for you!

Don’t be afraid to ask questions!

We are always here for you to answer any questions that you might have about our real estate market and how to better prepare yourself for purchasing a home. Contact us at any time to talk about your goals and to determine when the right time to buy is for you.