I can’t recall ever telling buyer clients that “now is the best time for you to buy a home!” But I have often counseled clients through the evaluative process of whether now could be the right time for them to spend hundreds of thousands of dollars.
Q: Is now the right time to buy a home in Charlottesville?
A: Maybe. It depends.
These are some of the reasons to buy a home in Charlottesville this year … as told, unprompted, by some buyer clients this year.
- I’m tired of renting.
- Interest rates are so low, it would be crazy to not at least consider buying now.
- With where we are in our lives, buying is the right thing to do now.
- I’ve lived in Charlottesville for a few years and feel settled in enough to consider buying.
- We’re planning to be in Charlottesville for a while.
- Interest rates are going to go up.
And then some thoughts about the buying process:
- “We know enough to know that we need guidance. It’s been a long time since we bought a home and a lot has changed since our last home purchase. “
- Right now, inventory in Charlottesville and Albemarle is exceedingly poor; choices are slim, and good homes are moving fast. Having someone (me, for example) on top of the search is critical.
- Planning, laying the groundwork in advance of having to make a rapid decision, is one of the most important components of the buying process.
- Context matters.
Questions about the market? Ask me anytime.
* Image courtesy of Economists Outlook Blog.
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