If you are in the process of buying Incline Village, NV Real Estate you are probably getting a lot of unsolicited advice from your nearest and dearest. While they mean the best, your loved ones either may not know your wants and needs, or may not understand them. Additionally, unless they work in real estate and have their finger on the pulse of the Inline Village, NV Real Estate market, they also probably don’t completely understand current market conditions. If you are feeling the pressure and second guessing your decision to buy a home for sale in Incline Village, NV, ask yourself these questions.
Why am I buying a home?
This is obviously the most important question to ask yourself. Take the money out of it for a few seconds and think about the other reasons you want to purchase a home.
This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money. 75% of buyers who are parents are motivated by education, so they choose homes in a good school district. Additionally, they want more space and a space that feels safe. Other motivating factors include having control of what you can do with your space and when, having as many pets as you like and no breed restrictions, being near certain amenities and more. Find out what your driving factors are without the financial benefits. If you are simply buying a home for sale in Incline Village, NV because everyone else owns a home and you don’t want to be the only renter, you may want to pause.
Where are home prices headed?
Every market is a little bit different but in general, the United States is in a seller’s market. Which means that inventory is low and buyer demand is high. The results are higher home prices and per CoreLogic’s latest Home Price Index, they are predicted to increase about 5% over the next year. In simpler terms, this means the dream home that is in your budget now, will not be if you wait too long. If you have wiggle room in your budget then you can probably afford to wait a little bit. However, if you have a strict number to abide by, do not wait to purchase Incline Village, NV real estate.
What is happening with mortgage interest rates?
It isn’t just the home prices that are expected to go up, mortgage interest rates are too. Even if they only go up a small amount, that can still dramatically increase the long term cost of your Incline Village Home for sale. Which goes back to the second question above: if you have no wiggle room, you cannot afford to wait when buying real estate in Incline Village, NV.
What does your qualified Incline Village, NV Realtor say?
Have you spoken with your local real estate expert? This is a big one folks. When purchasing Incline Village, NV real estate you do not want to go it alone. Seek out a long time seasoned Incline Village Realtor who can give you all the local market knowledge. Additionally, tell them your specific situation. They can provide advice and guide you in the right direction. Remember, a quality realtor will not push you to do something you aren’t ready for. They will truly have your best interest at heart. For more information on buying or selling in Incline Village, NV, give us a call at (775) 848-6242 or (775) 846-3856.