Mailbag: Is Now a Good Time to Buy?
Worried whether the time is right to buy a home in today’s market? Angie talks through where she sees the market headed, bathroom renovations, being a picky buyer, and searching for luxury homes on today’s podcast.
On today’s show, Angie tackles four questions from the mailbag as people make decisions when looking to buy their next home. What is important to keep in mind?
Steve in Holly Springs asks if now is a good time to buy a home, especially considering inflation. His friends have differing opinions on whether or not it’s better to buy now or wait it out. Recent news declared Raleigh as the third hottest market in the U.S. with appreciation at 24 percent. If you don’t make a move now, you might feel priced out of the market later on. Mortgage rates continue to be low, meaning your buying power is even better. Angie does not recommend waiting.
What options does that leave a potential buyer? You could buy a smaller home than you originally anticipated. Construction materials continue to go up and seem to be on the rise if you are considering building a home. Stay within your budget and allow yourself a buffer in order to cover unexpected costs.
Jill in Apex is renovating a bathroom and wondering if it’s a problem if none of their bathrooms have a tub. While it’s not important to them, how does this impact the future resell value? Angie says having a tub is something you want to have for the future in case the next homebuyer needs one.
Bill in Wake Forest is feeling like there is nothing for sale to match his search criteria on Zillow. Is he being too picky? Angie says this is the unfortunate thing in the current market with limited inventory. Open up your search by expanding the location, raising the budget, and tweaking your list of must-haves.
Ann in Durham has a $3 million budget for their next home purchase. How might the experience be different when looking for a luxury home? What is Angie’s experience with the luxury home market? While the process is similar, you should be matched with an agent who is experienced with the luxury market. It’s important that your agent understands the market, the location, and the quality of the homes.
Listen to the entire episode or skip ahead to a particular question using the timestamps below.
0:37 - Is now a good time to buy?
3:10 - What can a buyer do when worried about inflation?
5:25 - Do I need to have a tub in this bathroom renovation?
6:58 - What if nothing matches my search criteria in a home?
11:25 - What’s it like to buy a luxury home?
Get In Touch:
- Find out the value of your home! Click Here!
- Get answers to questions on home inspections. Click Here!
Angie Cole - Contact - Call: 919-538-6477