Purchasing a home is a major financial decision, prompting many potential buyers to consider various "what if" scenarios. According to an Opendoor survey, 93% of homebuyers believe that homes are currently overpriced, and while some are waiting for a potential drop in prices, the housing market continues to see quick sales and rising prices in many areas due to a shortage of inventory. Despite concerns over fluctuating mortgage rates, the long-term appreciation of real estate and the potential for increased home equity make it beneficial to focus on factors such as personal needs, budget, and long-term plans when deciding to buy.
Check out this article from realtor.com that explores the different "what if" questions that many potential homeowners are working through as they consider purchasing a home. Let me know if you have any questions about the article or if I can help with any of your real estate needs.
Tim Houterloot - Broker/Realtor
317-997-0165 - Cell
indyhomepro@outlook.com
Source: Realtor.com | Repost Houterloot 8/10/2023 -
Buying a house is a life-changing decision, so it stands to reason that buyers might play through the many “what ifs” before pulling the trigger. What if we buy now, but then mortgage rates drop? What if we buy now, but then home prices plummet? What if we buy a house, then get laid off?
What if, what if, what if?
These questions have always been part of the soul-searching people do before purchasing a property. Yet, today’s real estate market and the overall economy have been in such a state of flux, these scenarios have downright paralyzed some homebuyers.
“There are endless ‘what if’ scenarios in real estate, and we hear a lot of these from buyers and sellers,” says Amit Arora, vice president of investments at real estate site Opendoor. “All of which are completely valid, since buying or selling a home is one of the largest financial decisions people make in their lives.”
Valid though these concerns might be, the risk is that these potential scenarios might overwhelm you into doing nothing at all, taking a perpetual wait-and-see approach.
To help you manage, we’ve unpacked a bunch of homebuyers’ top real estate “what ifs” by providing some eye-opening, fact-based reality checks.
Read the full article...
