Thinking of Buying in 2018?

4 Apr by Wesley Jacobs

Thinking of Buying in 2018?

Spring is here!  The smell of beautiful flowers and warm weather brings a new season of home shopping.  2018 is still a seller’s market, but don’t let that stop you from buying a home.  We are still seeing price increases throughout the country with many markets facing a shortage in housing supply.  If you’re a first time home buyer, remember that you need to stay vigilant in the home buying process.  Do not wait for the next market crash to consider purchasing.  A home should never be something where you are looking for the “best deal”.  Homes are places for your family to live and do life together with others.

Rent, on the other hand, has equally grown to levels that are becoming less affordable.  Higher rent means less money saved each month that you can put toward your own home.  Think about it this way.  Do you want to pay down your own mortgage or do you want to pay down someone else’s mortgage?  In this housing market, you will need an experienced agent to help you through the home navigation process.

New homes are another avenue where you can consider.  There will be 1.3 million new homes constructed this year.  However, it will not be enough to keep up with population growth in major cities.  In the same token, home builders are focusing on more of the luxury market, which means there will be less affordable housing around for the average family.  Now is the time to act and go in with a strong Realtor who can guide you along the way.

Home prices are expected to continue to rise this year anywhere between 2% and 6% depending on the source.  Some home buyers have decided to purchase homes in the areas where there are more college students or young professionals that would prefer renting a single room rather than a house or apartment to save money.  This would be another option if you do not have a need for that extra bedroom in your home.  You can have an additional stream of income to help pay for your mortgage while also giving students a nicer place to stay so that they may too save up for their home in the future.

Let us know if you need assistance in looking for a home or an investment property for yourself.  Orlando Real Estate Search is here to guide you along the way and provide exceptional service.  We are the go to home experts for the Orlando FL area.