You have been planning your dream home in your head for years; daydreaming of wall colors, watching HGTV, and pinning your Pinterest boards; thinking ahead of all your family memories to be had where your kids can throw a football in the backyard. It’s a perfect picture, but for some reason you have not been able to make it happen.
If you are like the many others out there postponing buying a home, 2017 is the time to take the plunge and make it happen. Take advantage of this real estate market! It is time to make it official. Your New Year’s resolution for 2017 is buying your dream home!
Why 2017 is a great time to buy
Experts agree 2017 is the year to buy. Home prices have gone up 6.2% in the last year! With rates this low, hordes of new home buyers are going to be searching for homes before rates are raised again under the new Presidency. It is a buyers market. More homebuyers will be open to selling their homes due to the flash market, thus increasing inventory. Look around the county; notice anything? Builders have begun to focus on building more homes.
Buying vs Renting
The buyer’s market is going to far outweigh the renter’s market in 2017. Rent prices are continuously increasing, which makes buying a home actually cheaper than renting and not necessarily just in the long run. Take advantage of all the government initiatives available to you such as the Marion County SHIP Program, Fannie Mae Home Ready Program, Fannie Mae and Freddie Mac Home Possible Advantage Program at 3% down and a credit score of 620 or higher to qualify for a home loan.
How to Prepare
Now that buying a home is your New Year’s resolution, it is time to make sure all of your finances are in order. Is your credit score in tip-top shape? What can be done to reduce your debt-to-income ratio? Have you checked, double-checked, and triple-checked your credit score to make sure it is accurate and it is not reporting inaccuracies? Make an appointment to speak with a mortgage lender to see if you are pre-approved, how much home you can afford, and an estimate of your closing costs and down payment.
What are you waiting for?? There is no time like the new year to start a new life. Contact Josie Abbott at The Proeber Team to find your dream home!
Josie prides herself as a "one-stop" resource for buyers and sellers. She commits to building and maintaining relationships to last by embracing her customer's goals as her #1 priority.