Super proud of these two for closing on their first home! After a couple of multiple offer situations that didn’t go our way, they were finally able to make one stick. And as is so often the case, the home they bought was way better than the ones they lost!
There was a lot of uncertainty in the news about the real estate market during their home search. But these two know that time in the market is smarter than market timing.
There are plenty of people that are trying to time the market, they are waiting for prices to fall. But there are a number of problems with this strategy.
First and foremost, how will they know when to buy? What happens if prices don’t go down in the next year? Will they wait another year? What if prices go up? Will they buy then at the new, higher price? Or wait even longer? If prices go down, will they feel it’s the right time? Or will they want them to go down even further?
How much mortgage buy down, potential appreciation, and mortgage interest deductions will they miss out on during the waiting?
I don’t know the future, but I do know these two have a beautiful place that they can call their own. And perhaps the best part of home ownership: never getting that call from your landlord saying, “I’m so sorry, you need to move now.”