Buy Now or Later
Buying is always a great option. The real question is not if it is good to buy, but if it is a good time for YOU to buy.
The hot topic in the industry right now is the impending interest rate hike. The major factor in deciding to buy right now is the thought of what can I afford now versus later. As mortgage rates rise the type of home you can afford will change.
Every higher percentage point lowers your purchasing power. For example, if you were looking for a home at $345,000 it could become $325,000 with a slight interest rate hike. If you are looking under $200,00 the challenge is always there, but with the additional factor of interest rate hikes, the house you are looking at now may no longer be an option. Call me to run numbers and see the inventory (480) 772-1120.