I have been getting a lot of inquiries on whether or not it's the right time of year to buy a home and the answer is YES!!!!
Most think it's not. I disagree.
There are three reasons why it's actually financially smarter to buy a home now instead of waiting until next year
1. Less Competition. Less buyers on the market mean fewer bidding wars + more money in your pocket
2. Interest Rates. The Fed has scheduled an increase of interest rates up to 4X in 2019! Rates could rise to 6.5% which means a house today could cost thousands more next year.
3. Homestead Tax Exemption. To qualify, you must own your primary residence as of Jan 1. If you close on Jan 2 you have to wait the following year to qualify which could cost you thousands on next year's tax bill.
If you're contemplating buying a home within the next year it may be cheaper to break your lease and buy a home than to wait. Who do you know that wants to save thousands and buy a home today?!