OK! So the Fed cut rates by .25% and there is talk about more cuts coming this year. Great! Right? Well maybe. Let’s talk strategy.

Its a tricky game to try to wait until market conditions are perfect, and while lower rates may seem more favorable, they can also cause prices to go up. My advice to home buyers right now (and always) is this: If you are looking to own a home, (and you should be), its better to purchase sooner rather than later to start building equity and long term wealth regardless of what the current interest rates are. If rates drop in the future and you have the equity, you can always refinance. 

When should I start looking at homes?

You should start the home search process once you are financially qualified. Buy a home when (and only when) you find the right one that satisfies your needs and wants. Think about what your future needs may be and make sure the home satisfies that criteria. As long as you are comfortable with your mortgage payment, you needn’t be super concerned about the interest rate. The benefits of home ownership outweigh the interest expense.

What if the market goes down?

As long as you are comfortable, happy, and have the home that you need, why should you care or be worried if the market drops? If the market goes up, great, you have options. But if the market goes down, it doesn’t matter because you already have what you need and want. Remember, you buy a home to have a roof over your head, not to make a profit. Building equity is actually a secondary benefit to home ownership!

I hope this is helpful insight to any buyers out there that may be on the fence. Jump in! Start the search for your future home as soon as you can.

YOU’VE COME TO THE RIGHT PLACE!

Whatever your real estate needs, I can help you reach your goals with confidence. While visiting my website, you can access the most current real estate data and search for homes. When the time is right, feel free to contact me.