The market is moving fast. Prices have increased more than 25% in the last year. And, it may feel unpleasant to compete against the multitude of buyers.
And yet, you’ve been toying with moving. Interest rates are so low, maybe it feels like now is the right time.
You might be asking yourself …
- Do I deserve my dream home?
- Isn’t this a bubble?
- Should we move, remodel our current home, or purchase an investment property? Or, should we do nothing?
The only right answer is the one that’s best for you. Here are some considerations to help you make the
“Won’t I lose money if I buy now?” The short answer is, maybe. But, most likely not.
- Our housing inventory is extremely low. Projections state that demand isn’t going to slow down. An expected 1.8 million population increase to the front range over the next 25 years is predicted. This means at least a stable market, if not continued appreciation due to ongoing demand pressure..
- There were 20 million fewer homes built over the last decade than any other decade since the 1930’s. While builders seem to be building everywhere across the U.S., the housing shortage most likely isn’t going away.
- Yes, home values will fluctuate up and down over the years (most likely up), but do you think they will drop 30%? If yes, don’t buy. If no, then the only way you lose money is if you don’t capitalize on moving up now. The difference in lifetime payments between a 3% and 5% interest rate on a 30-year fixed loan, purchasing a $1.5mm home with 10% down is $526,000. That’s $526,000 of additional wealth. Even if the house itself doesn’t appreciate (which is unlikely).
- If you own a home now, you are going to experience the same market fluctuation as you would your dream home.
Don’t let this market scare you. If you have a dream, find the right path for you.
- Maybe it’s an addition to your current home. Maybe it’s a backyard remodel or a new bathroom and/or a new kitchen.
- Maybe you want to start building wealth by investing in real estate.
- Maybe you should just refinance and take comfort in the equity you’ve built over the last few years.
- Maybe it’s time you start believing you and your loved ones deserve to live the way you really want to live. And maybe, that can happen sooner than later.
Regardless of your ultimate decision, don’t let assumptions get in the way of knowledge. We’ve helped many people build incredible wealth and live the way they want to live, through smart buying and selling decisions, all because we had a simple conversation.
I’m here when you are ready to explore what’s best for you.