When Is the Best Time to Buy a Home? Right Now!
Posted by Taylor Goldsberry on Friday, October 7, 2022 at 8:16 AM
By Taylor Goldsberry / October 7, 2022
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With the Federal Reserve increasing interest rates substantially in recent months, many people have started to feel like buying a home isn't the best idea. You might think that the market will go down to compensate, or the thought of paying a 5%-6% rate when just last year it was 2%-3% feels financially unsound. You might contemplate waiting until the market drops or rates drop before diving into homeownership. As such, you're simply wondering, "when is the best time to buy a home?"
The short answer is: right now. If you want to be a homeowner, starting the process today is the best way to make that happen! Timing the market rarely works because there's always an excuse to avoid buying. To illustrate this...