3 Reasons That NOW is a Great Time to Buy Real Estate
We all know how hard we work for our money, but there comes a time when most of us are ready to start getting our money to work for us. It’s hard to believe that it’s actually possible, but if you invest in the right avenues, you can get your money to start making money for you. The #1 way that most people start doing it? Real estate.
Buying home has often been called the American Dream. It’s because there was a time when a new home cost pennies compared to salaries. That might not be the case anymore, but the market is still strong enough that buying a home is a great investment. Here are 3 reasons why now is a great time to buy real estate in Bradenton, Florida and most of the rest of the country as well.
Interests rates are still low
After tanking for nearly a decade, interest rates are slowly on the rise again. This might sound like bad news to some, but it is actually signs of a strengthening market. The good news is that they are still incredibly low, and there’s a good chance we won’t see them this low again. Low interest rates mean low monthly payments, and a lot of money saved at the end of the life of your loan.
Banks aren’t too skittish anymore
Remember back during the real estate boom of the mid 2000’s when you could get a massive loan with nothing more than a signature? Those days are gone, and good riddance. That’s half the reason that the economy went into the tank. Banks were under more scrutiny from the government and under more regulations, so many refused to lend much at all. Nowadays, though, that has changed. If you’ve got decent credit and a regular income, there’s no reason for you not to be able to obtain a mortgage.
The market is good in Bradenton
Many people talk as though they long for the days when you could buy a home for cheap in Florida. Don’t listen to them. Florida is still very affordable, especially in and around the Bradenton Area. The market is heading toward equilibrium and the median home price is still comfortably nestled in an affordable niche. As the market becomes more even, we can expect prices to drop, and from there things will get even better. Now’s the time to cash in.
Anyone who is hesitant to buy a home should know that this year and 2017 are great years for real estate. Banks are lending, interest rates are low, and prices are still within reach. These are just 3 of the reasons that now is a great time to get some real estate into your portfolio. The longer you wait, the worse it gets!