How to Know If Now Is the Right Time to Buy
As with most major life decision and transitions, there is no single right time to buy a house. However, if you’re struggling to figure out whether to buy now or wait another couple of months of years, we have some advice.
Here are a few things to consider when deciding whether it’s the right time to buy a house. Of course, it’s always important to consult with trusted professionals, such as a real estate agent or financial planner, before making this big step.
What to Consider When Deciding Whether to Buy Now
- Time of year: Summer has the highest inventory of homes available, but winter tends to be less competitive. Choose the time of year that works best for your goals and situation.
- Economy: What’s the state of the economy, and how could that affect your financial situation?
- Local market: Is your local housing market trending toward buyers or sellers? How much inventory is available? How fast are homes selling? What are the pricing trends?
- Life events and needs: Do you need to move for a new job, a new baby, or to have more space for remote work?
- Financial situation: Can you make a down payment right now? How much can you afford to spend on a new home? Are there homes available in your price range?
If your financial situation is a barrier to homeownership due to credit issues, income structure or similar circumstances, that doesn’t mean a new home is off the table. Contact Slow Flip to discuss your options!
The Slow Flip contract for deed program helps families in the Twin Cities metro area of Minneapolis, St. Paul and surrounding suburbs purchase a home using a contract for deed, or CD, when a mortgage is not possible. The Slow Flip contract for deed can be an ideal tool to purchase a home when buyers need time to adjust their income, credit, debts or other financial components so they can eventually qualify for a mortgage.
Are you or your clients interested in learning more about the Slow Flip contract for deed? Contact us at 952-417-0000 today.