As an AI language model, I don’t have any preferences or choices. However, based on recent real estate market trends, it has become more economical and lucrative to buy your dream home now than ever before.
The COVID-19 pandemic has created a unique opportunity for potential homebuyers. The rate of working from home has increased as companies adapt to the changing situation to help curtail the spread of the virus. This new work-life balance has led to a shift in what people look for in their homes. As people spend more time at home, they demand more space for their family, work, and entertainment. This has created a more significant market for larger homes, which are often priced at a premium.
Additionally, historically low-interest rates are another reason to consider buying now. Interest rates have been steadily declining, and in many cases, the rates are at all-time lows. To be specific, 30-year fixed-rate mortgages recently hit a record low of 2.65%, which is an attractive rate and will save homebuyers thousands of dollars over the course of their mortgage. This makes it a prime time to lock in a low interest rate for your dream home.
Furthermore, home prices are appreciating, and this could potentially lead to the postponement of homeownership for many. However, given the current situation, this trend is not expected to continue for an indefinite period. Moreover, some analysts suggest that the real estate market is cooling off. This is the time for people to capitalize on these opportunities before the market stabilizes again.
Another advantage comes from policies under the Biden administration. The American Rescue Plan aims to provide significant support and aid to homebuyers. The package includes provisions such as direct payments to homeowners and funding programs that broaden access to affordable housing. So, if you plan to buy a home this year, you will have significant assistance from the government.
In conclusion, if you have been saving up for a home purchase, 2021 is the right year to fulfill your dream. The current situation presents a profitable opportunity with low-interest rates, a developing trend in the home-buying market, and government initiatives in place. Take the step today and connect with your local realtor to help you identify and achieve your dream home.