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Reasons to Buy a Home This Spring

For the past few years, we’ve seen an interesting situation of a seller’s market combined with low interest rates. While there have been fewer homes on the market, they’ve gone up in price, but the low mortgage interest rates helped counter that. Now, we’re starting to see more homes on the market, but mortgage interest rates are going up. Thus, if you’re seriously interested in purchasing one of the homes in Chesterfield VA, this spring is the time to act while rates are still affordable.

Ultimately, buying is still cheaper than renting and you get an eventual return on your investment if you stay in your home long enough. Usually within 5-10 years, you can hope to see a significant benefit from owning your home if you choose to then sell.

Mortgage rates are starting to rise but they’re still low compared to past rates and you want to lock in a rate now before they get any higher. They’re unlikely to drop to the near record lows of the past year or two, so you really don’t want to wait and ultimately get less house for your money.

There was a drop in the number of homes available for quite a while, leading to homes selling at much higher prices than normal. Now, as more homes are coming on the market again – both pre-owned and new home construction – the prices of homes are starting to stabilize and are becoming more affordable. However, the demand is still there from people who have been looking for a while and have often been beaten to the purchase by another buyer. There’s still some challenge out there.

A number of new home builders currently have move-in ready homes available and even if they’re not exactly what you would have chosen in terms of finishes if you’d built from scratch, you’re still getting a brand new home that is built to a higher standard and is typically more energy efficient, saving you more money over time. Plus, you don’t have to wait to move in, or you may find a home that is nearing completion but lets you still choose some of the colors and finishes, which allows you to personalize the home more.

These are just some of the reasons why now is the perfect time to purchase one of the homes in Chesterfield VA. The number of move-in ready or almost-ready homes has increased, but they’re still likely to get snapped up quickly, as with pre-owned homes, so don’t delay. Contact us today to see about our various options and how you could potentially have your own new home by the end of spring.

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