Why Now is a Good Time to Buy a Home

May 9, 2020 | good time to buy a home

It may not seem obvious, but now is a surprisingly good time to buy a home, especially one of the quality-built homes in Quinton VA from LifeStyle Home Builders. While there are some aspects of the home buying market that make buying a home more challenging, there are other aspects that make the challenges worth it. If you find the right home, now is an excellent time to jump on it.

The number of available homes is down from recent years, which means there’s more competition from serious buyers. However, the number of serious buyers is lower, taking away some of the challenge. While the number of previously-owned homes available may be lower, that isn’t always the case with brand new homes. Many builders have move-in ready homes and are still doing new construction.

LifeStyle Home Builders has a number of move-in ready homes in the greater Richmond area that make it easy to find a dream home in an outstanding community, enabling you to act now. Many are ready to move in right now, while others are at the end of construction but offer the buyer the opportunity to put their own finishing touch on colors, finishes, and other features. Buying a brand new home is a great choice right now, thanks to warranties and overall new construction and appliances that are less likely to need updating or repairing any time soon, unlike previously owned homes.

LifeStyle Home Builders also has lots primed for brand new construction, including their exceptional Patriots Landing community in Quinton. When you choose new construction, you potentially have fewer buyers to compete against, although considering Patriots Landing is a community set in a rural, natural setting surrounding four lakes, and includes a grand clubhouse, lakeside pool, walking trails and parks, it’s hard not to imagine wanting to claim a piece of this idyllic community. Best of all, there are construction-to-permanent loans that allow you to lock in low interest rates now for the construction that then convert into standard mortgage loans, eliminating the need for multiple loan closing costs and other fees.

In fact, it is the current low interest mortgage rates that make now such an excellent time to purchase a home. Interest rates are always vulnerable to quick changes, but current mortgage rates are at all-time lows, making it an excellent time to act quickly and take advantage of low interest rates. While rates are expected to remain relatively low, if you’re serious about purchasing a new home, now is the time to act and lock in some historically low rates for both 15- and 30-year mortgages.

You may need to have your credit scores and employment records reexamined by lenders, even if you’ve previously been approved, but as long as you’re still in a position to buy a home, now is the time to do so — especially when you purchase one of the new homes in Quinton VA and the surrounding areas from LifeStyle Home Builders. With LifeStyle, you get quality built homes, great communities, and a team that looks out for each and every customer, striving to create the easiest, smoothest purchase possible for a satisfied customer.