Li Li Hwang
Li Li Hwang
Owner/Broker DRE # 01059188

Buy Now, or Wait?

With the current state of the market, many buyers are wondering, “Should I hold out for lower mortgage rates or act now?” While waiting for lower rates may seem appealing, it’s important to keep in mind that rates could just as easily rise. Timing the market can be risky, and there’s no guarantee that waiting will result in the savings you’re hoping for.

However, there is a potential win-win option for buyers: many lenders are offering FREE refinancing within 12 or 24 months in case mortgage rates drop. This means you can lock in your home purchase now, start building equity, and still benefit from a lower rate if rates fall in the future. You’ll be in a strong position, securing your home at today’s prices while having the opportunity to lower your payments later.

If you want to learn more about this refinancing opportunity or need guidance on whether to buy now or wait, contact us and we will guide you through the best options for your situation.

A common question on buyers’ minds is whether waiting until after the election could bring better market conditions. Historically, home prices tend to rise in the year following a presidential election, which means moving now might actually be the better bet. By purchasing today, you could potentially lock in a lower price before the typical post-election increase in home values.  Prices went up after 7 of 8 past presidential elections. 

One of the most important questions to ask yourself is how long you plan to stay in the home. If you’re planning to stay put for the long term, fluctuations in mortgage rates become less of a concern, as you’ll have time to benefit from appreciation in home values. If you’re purchasing with a long-term perspective, now could be the right time to buy, regardless of minor changes in interest rates.

or more insights, check out the infographic provided by KCM that highlights these common concerns and offers valuable guidance for buyers in today’s market.

  • If you’re wondering if you should buy now or wait, here’s what you need to know.
  • If you wait for rates to drop more, you’ll have to deal with more competition and higher prices as additional buyers jump back in. But if you buy now, you’d get ahead of that and have the chance to start building equity.
  • Should you buy now or wait? Let’s talk through it together, so you can make your best decision. 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. and Your Home Sold Guaranteed Realty LiLi Hwang Team do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. and Your Home Sold Guaranteed Realty LiLi Hwang Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein. DRE#02210675

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