“Home prices in the Charlotte area have dropped, foreclosures are on the rise and interest rates are at an all time low. There has never been a better opportunity for renters to convert to private homeownership than now.” says Heidi Hines of TeamHeidi™.
Around the country home prices are still dropping and even though the Charlotte region experienced a slight correction in its home valuation, we are still seeing areas that continue to fall. This is good news for those who want to take the leap into homeownership.
Affordability has never been this high. Even if home prices decline further, locking into an interest rate that is below 5% for 30 years will make any home purchase a tremendous bargain.
So what concerns are holding renters back? The fear of the ever changing market place and uncertainty about jobs makes buyers hesitant. There are ways to push past that fear and understand if you are truly ready to buy. Talking to Heidi or anyone at TeamHeidi™ about real estate options is a great first step. Establish a money savings habit before you own a home so that if problems arise once you buy, there is a cushion to help make it through those tough times.
If buying a home that is within your means and you have done the due diligence to understand how to maintain your home in a good or bad economy, then homeownership is your next move.