Are you on the fence about wanting to buy? Or are you thinking you'll just wait till the market cools? San Diego realtor Jeremy McHone gives you three reason on why now is a good time to buy a home if you are in the market.

Three Reasons You Should Buy a Home Right NOW

What are the three best reasons to buy a home right now? I'm Jeremy McHone with the Whissel Realty Group, and I want to tell you why I think now is still a great time to buy a home.

We all know we're in a seller's market here in San Diego County. In fact, we're in one of the lowest inventory markets in the history of the county, which means that it's probably never been more difficult to buy a home than it has right now. So why would you want to buy a home right now?

Historically Low Interest Rates

Well, the first reason, right now, we're seeing historically low interest rates. For the last year, rates have been at or near historical lows. What that means is that money is cheap. While you may be paying a high price for a home, your payment is actually lower than it would have been if you would have bought that home for a lower price point, but with one of these higher interest rates that we've seen in the past.

Buy Now Make Bank Later

The second reason to buy right now is we're in an appreciating market. So right now we're seeing homes appreciate at over 1% per month. That means that if you buy a home for $600,000 right now, in six months, it's going to be worth another $36,000 more. Compare that to, if we were in a depreciate market where you can expect the price of that to go down after you own it.

Would you rather buy in the price when prices are going up, or would you rather buy when prices are falling? Now, everybody wants to buy low and sell high. But the problem is, you don't actually know where the high points or the low points are until they're behind you.

Building a Stable Future

Now, the third reason why you should buy real estate right now is to build wealth. Andrew Carnegie said that 90% of millionaires in America are made through real estate. It's generally known as the best way to build wealth in America. If you know you want to build wealth and you know you want to own real estate eventually, why wait? Why not buy right now?

Especially when you know that prices are going up, and most likely interest rates are going to be going up, which means that if you put it off down the road, you're probably going to be paying a higher price with a higher interest rate for the same product. Rather than waiting to buy real estate, buy real estate, and then wait.

I'm Jeremy McHone with the Whissel Realty Group. If you have any questions or you're thinking about buying, and you want to decide if now's the right time. I'd love to talk to you. Just drop a comment below, send me a DM, or shoot me a call or text at 971-0791. Thank you.