The Right Time to Buy Your First Home

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There are many economic and market forecasts and predictions, however the bottom line is if you want to buy your first home—there is no wrong time.  There is because the motivation to buy is not determined by regional market conditions or by location.

Industry opinions, economic reports and investor speculation do not sway or predict when a particular individual will be ready to buy.  For the great majority of folks, the most compelling reasons to buy a home are based on individual circumstances and personal needs.  Some of these factors are:

• Family needs and desires for children/parents/in-laws/couples
• Convenience to home, work, school, social activities
• Sense of achievement or fulfillment
• Freedom and independence
• Sense of security and privacy

Even though there are many changes in the market, both up and down—people still need and want to buy homes.  This desire to buy a home is deeply rooted in the fabric of our national consciousness.  The intrinsic value of homeownership—defined as worth based on perception of value--gives far more satisfaction than ROI calculators can quantify.

Today, there are many different loan programs with flexible terms to fit all buyers. There are condos and manufactured homes to close the affordability gap.  For future buyers with blemished credit, there are many debt reduction and counseling programs to help gain a fresh start.

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Comments

[VA Loan]

Great post, if you are a first time home Buyer that is true. just get out there and look at the homes you would like to buy. the only thing is that you need a down payment now!

[San Diego Real Estate]

As a 20 year real estate professional I can tell you there has never been a better entry point for home buyers. First time home buyers were victims of the greed of the mortgage loan and real estate industry over the past 12 years. Unsubstantiated 20-30% year over year property valuation increases combined with fraudulant lending devices created the giant mess we now live in. But, first time home buyers can now have twice the house they could have had 4 years ago, and they need the tax break. Forget rates, go find a house you like and buy it now.

[Ray Ritchie]

Like your article. First time home buyers should be aware that now is the time to get the best home deals in their lifetime.

[Aurora Colorado real estate]

I totally agree with what you said. We do have many reasons why we need to buy a house. But before we make a purchase, we should have a vision of our desire house so as in the end, there won't be any regrets when upon making decisions.

-Audrey

[take surveys online]

this such a great time to buy a house. Especially with the $8,000 tax credit you can get.

[treasure garden umbrellas]

The key to finding real estate buyers is knowing exactly who you're trying to pinpoint. The biggest reason investors (and even Realtors) have a hard time when it comes to finding real estate buyers is that they simply believe in the concept of casting the widest net and hoping for the best.

[New Homes Brookfield]

The new mortgage reforms will definitely have a significant impact on how many Americans will be able to obtain a new home because many prospective homeowners will not be able to meet the stringent income to mortgage payment ratio of 28% and heftier down payments. As a result we will see more renters.

[Bryce]

It is a great time to buy a new home.. if you are having troubles in buying your new home because of having a low FICO score you should look into www.kraftycreditsolutions.com. they have helped 1,000 of their clients out by finding the fastest and quickest way to raise there FICO scores up to the guild lines. www.kraftycreditsolutions.com is a great company!

[Randy Robinson]

Hm, you make a good point. Economics aside, buying a home is based more on personal reasons. Nonetheless, it's best to be wise and consider one's budget when deciding on purchasing a new home.