Purchasing a home is always a matter of finding the perfect time and making the right choice. Unfortunately, if you’re not used to this you might make a choice that could cost you hundreds of thousands when it’s time to sell.
Fortunately: now is the right time to buy.
These are the top four reasons you should jump on buying a house, and what it could mean for your future.
1. The Market Has Slowed Down
We all know how wild the market was for most of 2020, 2021, and 2022. There were some months where homes wouldn’t stay on the market for longer than a week, and others where properties were guaranteed to break into a bidding war every time they hit the market.
Thankfully, for buyers, the market has finally slowed down. Flipping into a buyers’ market, you’re now at the advantage, and can get a far better deal. Although the obvious, house prices have slowed and even dropped in some areas: you can take it further.
Since this is a buyers’ market, you can push for even better deals. If there are repairs you want done, you can build this into the agreement. If you’re dealing with a really motivated seller you might even be able to get them to cover closing costs.
The market slowing down now doesn’t mean house prices are going to stay low like this forever. When it picks back up, you want to have a property already so you can watch your value grow with the economy.
2. Home Improvement Materials Are Finally Affordable
The prices of materials like ground pavers and even wood planks skyrocketed between 2020 and 2021 because of supply shortages, but supply is finally catching up with demand!
Home improvement materials are far more available, which means if you buy a home that needs some updates you don’t have to get burned by sticker shock if you DIY the fixes.
Even larger improvements, like adding a room or completing a major kitchen remodel, are more affordable. This means you can buy a project home, within reason, and save some money while getting to put your own fingerprint on it.
3. There Are More Style Options Than Ever Before
Regardless of what type of home you have in mind, you’ll find something you love on the market. Whether you’re particular about fiber cement siding, or you want a home with enough windows and exterior spaces to blur the lines between inside and out, you can find it in today’s market.
Through 2020 and 2021 house flipping was at an all-time high, which killed off a lot of the beautiful visual differences that many homes have. This charm was replaced with gray paint and simple rooms, but you don’t have to worry about that if you buy it right now. Home flippers are slowing down as of the last quarter of 2022, and by the beginning of 2023, you can expect to see far more homes that still have their original charm.
The endless options for style go on beyond the physical home itself. Thanks to the housing boom, there are countless new communities and housing areas that will allow you to pick based on what speaks to you. Do you want to live in a beachy community? Would you rather live in an area that feels like a massive park? You can be a lot pickier about aesthetics than before.
4. Create Your Own Exterior Oasis
After so many years of public spaces feeling unsafe or crowded, it’s time to reclaim the outdoors and make space for yourself. Owning your property means you have the land and option to make whatever you want out of it. This could mean adding cedar decking to create a lounging space, or even putting in beautiful pergolas to add shade from the hot California sun!
Many properties on the market have completely untouched backyards, which can be considered blank canvases. These give you room to create something entirely new, and develop an experience that speaks to what you want.
5. When Should You Consider Building Instead?
If you’ve looked at all of the options out there, and can’t seem to find the perfect home, you’re not alone. Don’t worry, you don’t have to settle for less than ideal, but you do need to consider building your own property. This could mean starting from scratch, or even better you could work with a builder that’s putting new properties into a community.
Building your own means you get to pick and choose what you want, and feel a sense of pride in your property since it’s everything you wanted. When working with a builder, make sure to check reviews and find a reliable company like Pacific Communities Builder.
Buying a newly built home has its advantages as well. For example you don’t have to participate in any bidding wars, it can still be customized to your tastes, and some builders have move in ready time if you can wait for the build time. Considering a new construction home could be a great choice as well to get a home perfectly customized to your tastes.
Now’s The Time to Get On the Market
If you’re eager to move into a place of your own, and aren’t willing to settle on a lackluster home, it’s important to jump now! Get the property of your dreams while it’s still on the market.
Brian Jeffries is a freelance writer that loves sharing his knowledge and expertise on construction projects and materials. He lives in Winter Park, Florida where he enjoys spending time with his wife and working on projects in his spare time. Brian’s work as a freelance writer can be found on Building Product Advisor, a new construction industry resource.
Why Choose Pacific Communities
With over 30 years of home building experience specializing in constructing quality homes in Southern California, our team at Pacific Communities Builder is dedicated to creating the best valued home in every market. Since 1991, Pacific Communities has built more than 5,000 homes and developed more than 150 communities. The firm has expertise that spans the full range of residential building including attached and detached homes as well as master-planned communities. To find out more, visit our website at pacificcommunities.com to view all available communities and to schedule your appointment.
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