California Houses For Sale: Why You Should Still Buy Your Dream Home In 2020
2020 has been an unforgettable year for many reasons both positive and negative. Events including COVID-19, wildfires, political elections, and a new civil rights movement have all made a great impact on our world.
But still, through the ups and downs of this year, the housing market has stayed strong and consistent.
Even though COVID-19 and 2020 have brought along a lot of issues and changes, a silver lining is that this year is still a great time to buy a new home.
People who are interested in purchasing their dream home should not hold off. There may not be such a great opportunity again soon.
Today, Bluefin Realty wants to share with you why 2020 is still a great year to purchase the home of your dreams!
COVID-19 Has Not Stopped The Housing Market
The global health crisis has indeed shut down a lot of areas of life. The good news is, COVID-19 has not been able to kill the housing market, which is as strong as ever!
The housing market has adapted and come out of the pandemic with new techniques and technologies that will continue to be a benefit as you search for a new home.
2020 truly is still a great year to purchase your home! The housing market is thriving and it is a great time to enter into it.
Incredibly Low Mortgage Interest Rates
Mortgage interest rates are one of the biggest factors in the timing of home buying. When interest rates are low, you save money and continue to save throughout the 15 to 30 years you spend paying back your loan.
According to Brunswick Crossing,
“The average 30-year fixed-rate hit its lowest point in history this August 2020 at 2.88%. In the last year, it has fallen two percentage points…What does this mean for you as a homebuyer?
You can take advantage of historically low rates that may never be seen again. If you move forward with a fixed interest rate, it will be locked in for the remainder of your loan. You could be taking advantage of these historic rates for the next 15 to 30 years!”
Having these amazingly low-interest rates means you will have lower payments and/ or have to back for a shorter amount of time. Any way you spin it, you will be saving a lot of money by jumping on these low-interest rates this year.
Selling Your Current Home Will Likely Be Quick And Easy
Many people who are hoping to buy their dream home will need to sell their current house. If that is the case for you, then this is a great time to do it.
The hypercompetitive market means that you will likely be able to sell your home quickly for an excellent price.
Once your home is sold you can put all of your energy into searching California houses for sale, until you and your real estate agent find your dream home!
Buying Sooner Rather Than Later Can Be Financially Beneficial
Don’t hesitate to buy your house, or at least begin looking into homes for sale. If you are financially stable, then buying your home soon is a wise choice. You won’t waste money on rentals any longer. Plus the sooner you buy your house, the sooner you can pay off your mortgage.
“The time effect on money means that with property investment, the sooner you commit and the quicker you can pay off your bond, the better the effective return earned will be. In other words, the moment you no longer owe the bank, you can start enjoying the full potential of passive rental income.”
Whether you or young or not, buying a house this year will be greatly beneficial for you financially.
When It Comes To Homes For Sale, Nobody Knows What The Future Holds
When it comes to the housing market things can change quickly. However, when you get in on a good mortgage rate, it stays with you through your whole 15 to 30-year mortgage payback period.
If you are hoping to find your dream house then you should truly consider jumping in this year before these amazing interest rates are gone!
Don’t miss out on these record-breaking mortgage rates!
Bluefin Realty Is Here To Help You Find Perfect California Houses For Sale
Bluefin Realty strictly follows all CDC guidelines. From virtual tours, to video consults, we have found new ways to help people find the perfect home while keeping everyone involved safe and healthy.
Bluefin Realty knows all of the great California houses for sale, and can help you find your dream home this year!
Need help finding your dream home? Click here to contact Bluefin Realty today!