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Why Experts Say 2021 is the Year to Buy a Home

December 28, 2020
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The housing market tends to trail behind other economic signposts somewhat, meaning that home sales are still fairly steady and prices solid, all things considered. In fact, the number of homes available is decreasing. Part of that is demand from people realizing that their current Puget Sound homes just don’t meet their needs anymore. That’s where our flexible and customizable home designs come into play. Even though 2020 has been a challenging year, and 2021 may have its own issues, experts generally suggest that this coming year is a good time to buy a home.

There has been economic uncertainty this year that may continue into next year, depending on various industries. However, that has been paired with rock-bottom mortgage rates that make it hard to resist. If you are in a fairly solid financial situation and are seriously considering the purchase of a new home, now is a great time to do so. With the low rates, you have the potential to lower your monthly payment or get more home for what you were planning on paying. That’s an opportunity you don’t want to miss.

Realistically, home prices, which have remained steady so far, may start to drop by the middle of next year. More homes are likely to be on the market, leading to less competition and lower prices. That works in your favor when you’re looking to buy. New home builders, who have sold off much of their current stock are in the process of building new homes, which should be coming available in 2021. Depending on the average market values, you may get a brand new home for less than you would have paid in the previous years, while still getting the benefit of a brand new, energy efficient, warranty-covered home built with many of your preferences in mind.

The main thing to keep in mind if you’re considering purchasing one of the Puget Sound homes in the coming year is your financial stability. If you’re in a sound financial position and a new home will make life and work easier for you — we offer a number of home designs with great home office spaces — buying a new home in 2021 could be a fantastic investment. If you’re looking for a place to settle down and develop some roots, getting a great home at a decent price could turn into a fantastic long term financial investment. Contact us to learn more about the new communities, available lots, and potential incentives to help you build your own ideal, brand new home in 2021.

 

 

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This post was written by Garrette Custom Homes

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