Purchasing a home is a goal many folks have, however due to the changing nature of the real estate market and the cost of living increasing, many aren’t sure when to start their home buying journey. 

They say there’s no time like the present, and this rings true for home buying. 

There’s a plethora of home financing options 

Currently, there’s a large quantity of home financing options available for those wishing to be homeowners. 

These options include but are not limited to: 

• Conventional mortgages: This option is great for buyers searching to purchase a home with a high down payment as this lowers the overall interest rate. 
• Fixed-rate mortgages: This loan option locks you into an unchanging interest rate and is a great option for those wanting to purchase their forever home or refinance their current home. 
• VA mortgage loans: This opinion is geared specifically towards those who have or currently serve in the military. Down payments are not a requirement and often offers lower interest rates. 

Incentives for building a home

Builders are creating incentives constantly for those to use their services. This includes paying closing costs during the home purchase or upgrades in the design package if you work with their recommended loan agency or closing attorney. 

The price of renting continues to increase

As with the price of many commodities and services, the cost of renting has increased, even to the point where renting can cost the same or even more per month as owning a home. 

By investing the money you would normally spend on rent into a home, you gain many benefits. These include: a property belonging to you, not being subjugated to unfair rent increases every year and allows you to build equity you can borrow back in the future. 

Nonetheless, after considering your personal goals, finances and incentives being offered – only you can decide when the right time to pursue homeownership is for you.