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When is the best time to buy property?

When is the best time to buy property?

 

Many buyers are in the dilemma of deciding when to buy property..... will the market crash?  Will it continue to rise, or will it plateau?

With so many variables effecting both buyers and sellers, from interest rate changes, current World climate, fuel prices, food shortages, covid 19, changing careers, schools for kids.........

many would think they should wait for things to settle and property prices to drop.

However, if property prices drop, it usually coincides with interest rates rising!

If you could by  a home today for $800,000 with a mortgage at 2.5%, vs buying the same home for $750,000 but interest rates rising to 4.5%, you would potentially be $639 per month or $7,668.00 per year worse off.

Make sure you take everything into consideration before putting off a buying decision, as you may find yourself looking back and wishing you had purchased in 2022!!

Want more great tips on how to buy property?  Engage one of our fantastic agents to discuss how to can achieve your property goals.

Good luck and happy buying