Although we’ve become accustomed to seeing historically low rates over the past few years, we’re actually still well below the national average homeowners were paying in interest back in the 2000s! Despite rising interest rates, there are still several reasons why now is still a good time to buy a home if you are financially ready.
Less Competition
With interest rates on the rise and the housing market continuing to cool off, industry professionals are expecting the number of homes for sale to increase. This combined with stressful bidding wars and above-asking-price offers becoming less common could mean less competition (and stress!) when searching for a new home.
Increased Equity
One of the best benefits of homeownership is the home equity you can build over time. Despite home prices continuing to rise largely in part due to inflation, if you are purchasing in an area with consistent growth, it is likely your home value will continue to rise above what you paid for it.
Builder Incentive Offers
As the market begins to shift, now could be a great time to take advantage of incentive offers from your homebuilder! These incentives could include covering your new home’s closing costs or temporarily lowering your interest rate with a buydown. Reach out to your nearby PulteGroup Community’s Sales Consultant or Pulte Mortgage Representative to learn more about incentive offers in your area!
