Throughout the country, spring and summer are when the most serious house hunting takes place. Springtime is, after all, the season when it just feels right to undertake major initiatives—and buying Minneapolis homes certainly falls into that category.
But if your own school or work calendar doesn’t dictate the timing, there are some good reasons why putting it off until next year may not be in your best interest. Here are four worth considering:
- Wealth-building. If you are now renting, the sooner a portion of your monthly housing spend begins to go toward building equity for your own account, the better. All those TV commercials about starting early to save for retirement are reminders of the same immutable truth.
- Home loans. The arithmetic is straightforward: when it comes to mortgage payment amounts, low-interest rates represent huge long-term savings. Currently, they remain in the historically favorable range—but they’re projected to rise. No one knows the precise timing, but most experts expect it to be soon.
- Investment wisdom. It’s such an investors’ commonplace that it almost sounds silly to say it out loud—yet “buy low, sell high” is easier said than done because it runs counter to how the crowd is behaving. With the economy and wages surging, most experts expect U.S. homebuyers to face a continuation of the slow and steady rise in housing prices—in which case acting now makes investment sense.
- Market. It is often the case that when the hottest Minneapolis home-buying season has passed, sellers whose homes have not yet sold may become more eager to sell—and more flexible in general.
Fall is near an end but there is still time to begin your home purchase in the Twin Cities. There is a range of listing currently being office right now. Give our office a call to discuss investigating what’s out there!