RIS Media just wrote a great article on buying a home in today’s market. As they point out, there are several reasons that today is a particularly good time to buy a home for most of us. The selection is as great as it will ever be, mortgage rates are still relatively low by historical standards, and costs of any desired remodeling/upgrades are a lot less because of the downturn in new home construction and the resulting glut of building supplies.
The expected downturn in the economy could also mean it’s a good time for refurbishing and remodeling new home – or indeed homes you plan to sell. Again as RIS Medis describes, Construction labor costs are down as well, as many home builders have decided to become remodeling contractors until the market for new homes improves. The remodeling market has also slowed down somewhat. With many home builders recently reinventing themselves as remodeling contractors, price competition in that market is very intense today.
When you’re ready to buy a home, be sure to get an exclusive buyer agent to work for you to make the most of your buyer’s advantage.